Lagatar24 Desk
New Delhi, June 14: Adani Group, an Indian conglomerate, and TotalEnergies, a French energy behemoth, said on Tuesday that they had reached a deal to construct the world’s largest green hydrogen ecosystem together. According to a senior person familiar with the situation, a major portion of this investment is scheduled to take place in Gujarat’s Kutch region.
According to an official release from Adani Enterprises Ltd (AEL), TotalEnergies will acquire a 25% minority ownership in Adani New Industries Ltd (ANIL) as part of this strategic partnership.
ANIL has proposed investing more than $50 billion in green hydrogen and its associated ecosystems over the next ten years, with a 1 million tonne per year green hydrogen production capacity developed in the first phase by 2030.
“The strategic value of the Adani-TotalEnergies relationship is immense at both the business and ambition levels,” said Gautam Adani, chairman of Adani Group.
The deal’s valuation and other financial specifics have yet to be revealed.
