fbpx
  • About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Non Banking Mergers & Acquisitions

India: Adani, French Total team up to invest USD 5 Billion in Green Hydrogen

The company aims to become the largest producer of green hydrogen in the world

Ritu M R by Ritu M R
June 14, 2022
in Mergers & Acquisitions, Energy, The Global Economics, Top Stories
Reading Time: 2 mins read
0
India: Adani, French Total team up to invest USD 5 Billion in Green Hydrogen

India: Adani, French Total team up to invest USD 5 Billion in Green Hydrogen

30
SHARES
165
VIEWS
FacebookTwitterRedditWhatsAppLinkedInShare Link

French giant Total Energies and Indian billionaire industrialist Gautam Adani’s conglomerate plan to invest USD 5 billion to produce green hydrogen and related products in India as the world’s third-largest emitter of carbon seeking to decarbonize.

Total Energies has entered into an agreement with Adani Enterprises Limited to buy a 25 percent stake in Adani New Industries Ltd for an undisclosed amount, according to an exchange filing from the company earlier this week. Adani New Industries (ANIL) is a closely-held company of Adani Enterprises, the flagship firm for the coal-to-ports conglomerate.

The company was incorporated earlier this year in January, with the intention of piloting the new energy and low-carbon ventures for the group.

Earlier this year, in a regulatory filing, the company stated that it would develop and operate projects for the synthesis of low-carbon fuels and chemicals. It also said that it would undertake the generation of low-carbon electricity, and additionally manufacture important components for projects related to the manufacture of green hydrogen and wind turbines.

In a recent announcement, ANIL was quoted saying that it aims to be the largest fully integrated green hydrogen producer in the world from the manufacturing of renewables and green hydrogen equipment (solar panels, wind turbines, electrolysers, etc.), to the large-scale generation of green hydrogen, and green hydrogen derivatives with its existence across the entire value chain.

Gautam Adani, Chairman of the India-based Group stated that he is confident that the company will eventually produce the world’s least expensive green hydrogen. On its journey to become the largest green hydrogen producer in the world, the partnership with Total Energies will add several dimensions that include R&D, market reach and an understanding of the end consumer.

Adani was further quoted as saying that the partnership with Total will open up new avenues for exploration.

Adani aims to become the largest green hydrogen producer in the world

 Gautam Adani announced that the company is seeking global investors and has committed to spend as much as USD70 billion (Rs 5.46 trillion) by 2030 across the green-energy value chain. Green hydrogen projects will also help India the world’s third-largest carbon-emitting country to slash its reliance on oil and coal as it chases a target of being zero carbon by 2070.

As the shareholders are demanding greater efforts to fight climate change, Total is enhancing clean-energy output while reigning in oil-product sales.

Total has previously joined hands with Adani to invest in natural gas and renewables in India, where the government this year unveiled plans and incentives for massive hydrogen growth. In 2019, Total acquired a 37.4 percent stake in Adani Gas Ltd. (now called Adani Total Gas Ltd.) and last year spent USD2.5 billion acquiring 20 percent of Adani Green Energy Ltd. along with a 50 percent stake in a portfolio of solar assets.

The partnership will provide a potential avenue to decarbonize heavy industries like cement production, fertilizers and steelmaking. India aims to produce 5 million tons of green hydrogen annually, although the fuel is yet to be proven as a commercially viable alternative.

Other major producers include Australian billionaire Andrew Forrest’s Fortescue Future Industries, which is targeting an initial output of 15 million tons of green hydrogen per year by 2030 from a network of global projects. Vestas Wind Systems A/S, InterContinental Energy and other partners in the industry intend to produce about 1.8 million tons of the fuel every year and to begin exports by 2027 from the Asian Renewable Energy Hub in Western Australia.

 

Via: short URL
Tags: Adani GroupGreen HydrogenM&ATotal Energy
Ritu M R

Ritu M R

Ritu is a professional who aims at writing informative and engaging articles that appeal to the readers.

Related Posts

Hungary nears agreement with European Union to access nearly $ 30 billion frozen funds
Funds

Hungary nears agreement with European Union to access nearly $ 30 billion frozen funds

by Riya Thomas
March 24, 2023
China’s March Towards Automobile Dominance
Clean Energy

China’s March Towards Automobile Dominance

by The Global Economics
March 24, 2023
Housing Risk in South Korea Worsened Due to Bizarre $828 Billion Loan Market
Real Estate

Housing Risk in South Korea Worsened Due to Bizarre $828 Billion Loan Market

by Rahil Adnan
March 24, 2023
Ford’s Electric Vehicle Unit Forecasts $3 Billion Loss in 2023
Transportation

Ford’s Electric Vehicle Unit Forecasts $3 Billion Loss in 2023

by Riya Thomas
March 24, 2023
40% Rise in Puig Annual Revenues up to €3.6 billion, in 2022
Fashion

Puig Annual Revenues Skyrocket 40% up to €3.6 billion, in 2022

by Rahil Adnan
March 24, 2023
Previous
Next
Facebook Twitter Instagram Youtube LinkedIn Soundcloud
The Global Economics

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

Hungary nears agreement with European Union to access nearly $ 30 billion frozen funds

Hungary nears agreement with European Union to access nearly $ 30 billion frozen funds

March 24, 2023
China’s March Towards Automobile Dominance

China’s March Towards Automobile Dominance

March 24, 2023
Housing Risk in South Korea Worsened Due to Bizarre $828 Billion Loan Market

Housing Risk in South Korea Worsened Due to Bizarre $828 Billion Loan Market

March 24, 2023
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version