Billionaire Gautam led Adani Group, and TotalEnergies, France’s energy supermajor, have formed a new cooperation to build the world’s largest green hydrogen ecosystem. TotalEnergies will buy a 25% minority stake in Adani New Industries Ltd (ANIL) from Adani Enterprises Ltd as part of this strategic cooperation (AEL).
ANIL plans to invest more than USD 50 billion on green hydrogen and its ecosystem over the next ten years. Before 2030, ANIL will create a green hydrogen production capacity of 1 million tonnes per year in the first phase.
“The strategic value of the Adani-TotalEnergies alliance is enormous, both in terms of business and ambition,” said Gautam Adani, Chairman of the Adani Group. “The relationship with TotalEnergies adds multiple dimensions to our goal to become the world’s largest green hydrogen player, including R&D, market reach, and an understanding of the end consumer.” This gives us the ability to shape market demand. This is why I consider the continuation of our collaboration to be so important.”
“We are also thrilled with this deal, which deepens our partnership with the AG in India and contributes to the commercialization of India’s abundant low-cost renewable energy resources.”said Patrick Pouyanné, Chairman and CEO of TotalEnergies.
He further added that, this projected green hydrogen production capacity of 1 million tonnes per year will be a significant step toward boosting TotalEnergies’ proportion of new decarbonized molecules, such as biofuels, biogas, hydrogen, and e-fuels, to 25% of its total production capacity.
The new alliance, which is centred on green hydrogen, is likely to revolutionise India’s and the world’s energy landscapes. Adani and TotalEnergies are both pioneers in energy transition and renewable energy adoption, and this collaborative energy platform bolsters both firms’ public ESG commitments.
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