New partnership to strengthen green hydrogen

Visakhapatnam : Indian business conglomerate Adani Group entered into a new partnership with Total Energies to create the world's largest green hydrogen ecosystem. The new partnership, centred on green hydrogen, is expected to transform the energy landscape globally and the collaborative energy platform further strengthens the public ESG commitments made by both the companies.

As a part of the strategic alliance, Total Energies will acquire a 25 per cent minority interest in Adani New Industries Ltd (ANIL) from Adani Enterprises Ltd (AEL). Speaking on the occasion, Gautam Adani, Chairman, Adani Group said, "In our journey to become the largest green hydrogen player in the world, the partnership adds several dimensions.

This fundamentally allows us to shape market demand. This is why I find the continued extension of our partnership to hold such great value. This partnership will open up a number of exciting downstream pathways."

Patrick Pouyanné, Chairman and CEO of Total Energies said,

"The agreement 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 1 million tonne per annum of green hydrogen will be a major step in increasing Total Energies' share of new decarbonized molecules, including biofuels, biogas, hydrogen, and e-fuels to 25 per cent of its energy production and sales by 2050."

While Adani will bring its deep knowledge of the Indian market, rapid execution capabilities, operations excellence and capital management philosophy to the partnership, Total Energies will bring its deep understanding of the global and European market, credit enhancement and financial strength to lower the financing costs, and expertise in underlying technologies.