TotalEnergies will acquire the minority interest in ANIL from Adani Enterprises, a joint statement by the companies said on Tuesday. In the initial phase, ANIL will develop green hydrogen production capacity of 1 million tonne per annum before 2030.
Addressing the JP Morgan India Investor Summit on September 21, Adani Group chairman Gautam Adani had first outlined his green hydrogen plan with an investment of $20 billion and a target of producing the world’s “cheapest green electron”.
Total and Adani began their tango in 2018 when the French major acquired stakes in Adani Gas, city gas distribution, associated LNG terminal, and gas marketing businesses. Total has 37. 4% in Adani Gas and 50% in the Dhamra LNG project. Total also has a 20% stake in Adani Green Energy, the group’s renewable energy arm.
ANIL aims to be the largest fully integrated green hydrogen player in the world, with presence across the entire value chain — from manufacturing solar panels, wind turbines and electrolysers to renewable power generation, green hydrogen production and creating downstream facilities for green hydrogen derivatives. “The strategic value of the Adani-TotalEnergies relationship is immense at both the business level and the ambition level,” the statement quoted Gautam Adani as saying.
“The new partnership, centred on green hydrogen, is expected to transform the energy landscape both in India and globally. TotalEnergies’s entry into ANIL is a major milestone in implementing our renewable and low-carbon hydrogen strategy, where we want to not only decarbonise 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,” it quoted Total CEO Patrick Pouyanne as saying.
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