Total Energies of France will acquire a 25 per cent minority stake in Adani New Industries Ltd (ANIL) to create “the world’s largest green hydrogen ecosystem” with the Adani Group.
The new partnership, centred on green hydrogen, is expected to transform the energy landscape both in India and globally. Both Adani and TotalEnergies are pioneers in energy transition and clean energy adoption, and this joint energy platform further strengthens the public ESG commitments made by both companies, said Adani Group in a release Tuesday.
ANIL’s ambition is to invest over $50 billion over the next 10 years in green hydrogen and associated ecosystems. In the initial phase, ANIL will develop a green hydrogen production capacity of 1 million tonne per annum before 2030. “The strategic value of the Adani-TotalEnergies relationship is immense at both the business level and the ambition level,” said Gautam Adani, Chairman, Adani Group, in the release.
“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,” said Patrick Pouyanné, Chairman and CEO of TotalEnergies.
“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,” he added.
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.