The Adani group said on Tuesday it had entered into an agreement with French energy major TotalEnergies SE to jointly create the ‘world’s largest green hydrogen ecosystem’ in Gujarat’s Kutch region.
As part of the strategic tie-up, TotalEnergies would acquire a 25% stake in Adani New Industries Ltd. (ANIL), a subsidiary of Adani Enterprises Ltd. (AEL). The joint venture aims to invest $50 billion over the next 10 years to set up the green hydrogen ecosystem, AEL and TotalEnergies said in a joint statement.
“In our journey to be the world’s largest Green H2 player, the partnership with @TotalEnergies will fundamentally shape market demand,” Adani group chairman Gautam Adani posted on Twitter. “Our ability to produce the world’s least expensive electron will lead to us producing the world’s least expensive Green H2,” Mr. Adani tweeted announcing the partnership.
