-Adani New Industries Ltd to invest USD 50 Bn in green hydrogen

    -This is India's largest commitment to green hydrogen by a company

    Adani, India's fastest-growing diversified business portfolio, and energy 
supermajor TotalEnergies of France, have entered into a new partnership to 
jointly create the world's largest green hydrogen ecosystem. In this strategic 
alliance, TotalEnergies will acquire 25% minority interest in Adani New 
Industries Ltd (ANIL) from Adani Enterprises Ltd (AEL).
    
    The new partnership, centered on green hydrogen, is expected to transform 
the energy landscape both in India and globally. Both Adani and TotalEnergies 
are pioneers in energy transition and clean energy adoption, and this joint 
energy platform further strengthens the public ESG commitments made by both 
companies.

    ANIL's ambition is to invest over USD 50 billion over the next 10 years in 
green hydrogen and associated ecosystem. In the initial phase, ANIL will 
develop green hydrogen production capacity of 1 million ton per annum before 
2030.

    "The strategic value of the Adani-TotalEnergies relationship is immense at 
both the business level and the ambition level," said Mr. Gautam Adani, 
Chairman, Adani Group. "In our journey to become the largest green hydrogen 
player in the world, the partnership with TotalEnergies adds several dimensions 
that include R&D, market reach and an understanding of the end consumer. This 
fundamentally allows us to shape market demand. This is why I find the 
continued extension of our partnership to hold such great value. Our confidence 
in our ability to produce the world's least expensive electron is what will 
drive our ability to produce the world's least expensive green hydrogen. This 
partnership will open up a number of exciting downstream pathways."

    "TotalEnergies' entry into ANIL is a major milestone in implementing our 
renewable and low carbon hydrogen strategy, where we want to not only 
decarbonize the hydrogen used in our European refineries by 2030, but also 
pioneer the mass production of green hydrogen to meet demand, as the market 
will take off by the end of this decade," said Mr. Patrick Pouyanné, Chairman 
and CEO of TotalEnergies. "We are also very pleased with this agreement, which 
further strengthens our alliance with the Adani Group in India and contributes 
to the valorization of India's abundant low-cost renewable power potential. 
This future production capacity of 1 million ton per annum of green hydrogen 
will be a major step in increasing TotalEnergies' share of new decarbonized 
molecules including biofuels, biogas, hydrogen, and e-fuels to 25% of its 
energy production and sales by 2050."

    This partnership builds on the exceptional synergies between the two 
platforms. While Adani will bring its deep knowledge of the Indian market, 
rapid execution capabilities, operations excellence and capital management 
philosophy to the partnership, TotalEnergies will bring its deep understanding 
of the global and European market, credit enhancement and financial strength to 
lower the financing costs, and expertise in underlying technologies. The 
complementary strengths of the partners will help ANIL deliver the largest 
green hydrogen ecosystem in the world, which, in turn, will deliver the lowest 
cost of Green Hydrogen to the consumer and help accelerate the global energy 
transition.

    ANIL aims to be the largest fully integrated green hydrogen player in the 
world, with presence across the entire value chain, from the manufacturing of 
renewables and green hydrogen equipment (solar panels, wind turbines, 
electrolysers, etc.), to large scale generation of green hydrogen, to 
downstream facilities producing green hydrogen derivatives.

    With this investment in ANIL, the strategic alliance between the Adani 
Portfolio and TotalEnergies now covers LNG terminals, the gas utility business, 
renewables business and green hydrogen production. The partnership helps India 
in its quest to build the fundamental pillars of economic sustainability by 
driving decarbonisation of industry, power generation, mobility, and 
agriculture thereby mitigating climate change, and ensuring energy independence.

    Photo: 
https://mma.prnewswire.com/media/1839121/Adani_Group_TotalEnergies.jpg
    Logo: https://mma.prnewswire.com/media/1716106/Adani_Group_Logo.jpg



    Source:  Adani Group