Total Energies will acquire 25 percent stake in Adani New Industries from Adani Enterprises as part of the plan to jointly create the world’s largest green hydrogen ecosystem.
The new partnership, centered on green hydrogen, is expected to transform the energy landscape both in India and globally.
Adani New Industries’ ambition is to invest over $50 billion over the next 10 years in green hydrogen and associated ecosystem. In the initial phase, Adani New Industries will develop green hydrogen production capacity of 1 million ton per annum before 2030.
“In our journey to become the largest green hydrogen player in the world, the partnership with Total Energies adds several dimensions that include R&D, market reach and an understanding of the end consumer,” Gautam Adani, Chairman, Adani Group, said.
“Total Energies’ 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,” said Patrick Pouyanne, Chairman and CEO of Total Energies.
“This future production capacity of 1 million ton per annum of green hydrogen will be a major step in increasing Total Energies’ share of new decarbonized molecules including biofuels, biogas, hydrogen, and e-fuels to 25 percent of its energy production and sales by 2050.”