Indian, Adani and TotalEnergies of France, announced today (June 14), that they have entered a partnership to create the ‘world’s largest’ green hydrogen ecosystem, to deliver green hydrogen at the ‘lowest cost’ to consumers.
Adani New Industries Ltd (ANIL) aims to invest more than $50bn over the next 10 years in green hydrogen and an associated ecosystem, with initial plans to see ANIL develop a green hydrogen production capacity of one million tonnes per year by 2030.
Coming at a time of rapid hydrogen technology scale-up, the partnership seeks to aid India in its ambitions of building economic sustainability by decarbonising industry, power generation, mobility, and agriculture.
Under the partnership, TotalEnergies will acquire a 25% minority interest in ANIL from Adani Enterprises Ltd (AEL).
The companies say Adani’s knowledge of the Indian market, combined with TotalEnergies understanding of the global and European markets, will help the partnership deliver the ‘world’s largest’ green hydrogen ecosystem, at low costs.
Gautam Adani, Chairman of Adani Group, 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.”
H2 View understands, the new strategic alliance between the Adani portfolio and TotalEnergies will cover liquid natural gas (LNG) terminals, gas utility, renewables, and green hydrogen production.
Patrick Pouyanné, Chairman and CEO of TotalEnergies, 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.
“We are also very pleased with this agreement, which further strengthens our alliance with the Adani Group in India and contributes to the valorisation of India’s abundant low-cost renewable power potential.
“This future production capacity of one million tonnes 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.”
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