Adani and TotalEnergies have launched a new partnership to jointly create the world’s largest green hydrogen ecosystem.
TotalEnergies will have a 25% minority interest in Adani New Industries (ANIL) by Adani Enterprises (AEL).
Through this cooperation, the energy landscape is expected to be transformed both in India and globally.
ANIL aspires to invest more than US$50 billion over the next decade in green hydrogen and related ecosystems. In the initial phase, ANIL will develop a capacity of 1 million tonnes of green hydrogen per year before 2030.
“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,” said Gautam Adani, chairman of Adani Group.
“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,” noted Patrick Pouyanné, chairman and CEO of TotalEnergies.
Adani will bring its in-depth knowledge of the Indian market, fast execution capabilities, operational excellence and capital management philosophy to the partnership, while TotalEnergies will offer in-depth understanding of the global and European market, credit enhancement and financial strength to reduce financing costs.
The largest green hydrogen ecosystem in the world will offer the lowest cost of green hydrogen to the consumer and help accelerate the global energy transition.
ANIL aims to be a world leader in green hydrogen with a presence throughout the 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.
