Adani, Total Energies to invest $50bn in green hydrogen

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Adani Group has joined  hands with one of the world’s largest green hydrogen makers, Total Energies to create the world’s largest green hydrogen ecosystem and invest over $50 billion over the next 10 years. In the first phase, the company will develop green hydrogen production capacity of 1 million tonnes per annum before 2030.

As part of this alliance, Total Energies will acquire a 25 percent minority interest in Adani New Industries (ANIL) from Adani Enterprises (AEL).

“The strategic value of the Adani-Total Energies relationship is immense at both the business level and the ambition level,” said Gautam Adani, Chairman, Adani Group said in a statement. He said the partnership will allow Adani Group to shape market demand and produce the world’s least expensive electron and green hydrogen.

When fully operational, the company will become 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.

Company executives indicated that the partnership will leverage Adani’s rich portfolio of business assets that cover LNG terminals, the gas utility business, renewables business and green hydrogen production to support decarbonisation of industry, power generation, mobility and agriculture thereby mitigating climate change and ensuring energy independence.

Patrick Pouyanne, Chairman and CEO of Total Energies said the total capacity of 1 million tonnes per annum of green hydrogen will be a major step in increasing Total’s share of new decarbonised molecules. “This  includes biofuels, biogas, hydrogen, and e-fuels to 25 percent of its energy production and sales by 2050,”  Pouyanne said.