Adani Ent has partnered with TotalEnergies to create the world’s largest green hydrogen ecosystem, the company said in a stock exchange filing on Tuesday. France’s TotalEnergies will be acquiring a 25% minority interest in Adani New Industries (ANIL).
The company said that ANIL will develop a green hydrogen production capacity of 1 million tons per annum before 2030. This is India’s largest commitment to green hydrogen by a company.
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.
“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,” Gautam Adani, Chairman, Adani Group said.
“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.” Patrick Pouyanné, Chairman and CEO of TotalEnergies said.
“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,” Pouyanne added.
TotalEnergies, one of the world’s biggest oil and gas producers, has faced criticism from climate activists and has been moving into the renewable energy sector and diversifying away from hydrocarbon-centred activities in recent years.
