PARIS: The Adani Group has partnered with energy major TotalEnergies of France to jointly create the world’s largest green hydrogen ecosystem. TotalEnergies will acquire 25% stake in Adani New Industries Ltd (ANIL) from Adani Enterprises Ltd (AEL). ANIL plans to invest over $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.
Adani Group chairman Gautam Adani said: “The strategic value of the Adani-TotalEnergies relationship is immense at both the business level and the ambition level. 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.”
ANIL aims to be the world’s largest fully integrated green hydrogen player, with presence across the entire value chain — from manufacturing of renewables and green hydrogen equipment (solar panels, wind turbines, electrolysers) to large scale generation of green hydrogen and downstream facilities producing green hydrogen derivatives.
Gautam Adani tweeted: “In our journey to be the world’s largest Green H2 player, the partnership with TotalEnergies will fundamentally shape market demand. Our ability to produce the world’s least expensive electron will lead to us producing the world’s least expensive Green H2.”
TotalEnergies Chairman and CEO Patrick Pouyanné said: “TotalEnergies’ entry into ANIL is a major milestone in implementing our renewable and low carbon hydrogen strategy, where we want to not only decarbonise 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…
This future production capacity of 1 million ton per annum of green hydrogen will be a major step in increasing TotalEnergies’ share of new decarbonised molecules including biofuels, biogas, hydrogen, and e-fuels to 25% of its energy production and sales by 2050.”
Adani Group says its partnership with the French major 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.”
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, it adds.