A new green hydrogen company has been set up in India to deliver “the largest green hydrogen ecosystem in the world”, targeting initial production of 1mln metric tonnes of green hydrogen per year.
Adani New Industries Limited (ANIL), set up by Indian industrial giant Adani Group, has agreed for France’s TotalEnergies to acquire a 25% stake for an undisclosed sum.
ANIL will be fully integrated, from the manufacturing of equipment needed to generate renewable power and produce green hydrogen, to the production of green hydrogen and its transformation into derivatives, including nitrogenous fertilizers and methanol for India’s domestic market and for export.
As part of the first project, Adani and Total plan to invest a combined US$5bn in a 2 gigawatt (GW) electrolyser fed by renewable power from a 4GW solar and wind farm, with the aim of producing 1.3mln tonnes a year of urea fertiliser derived from green hydrogen for the Indian domestic market.
Using Adani’s portfolio of interests and with Total’s experience in renewable technologies and large-scale industrial projects, the partners' said their “complementary strengths will help ANIL deliver the largest green hydrogen ecosystem in the world, which will enable the lowest green hydrogen cost to the consumer”.
Adani Group chairman Gautam Adani said: “The strategic value of the Adani-TotalEnergies relationship is immense at both the business level and the ambition level.
“In our journey to become the largest green hydrogen player in the world, the partnership with TotalEnergies adds several dimensions that include R&D, market reach and an understanding of the end consumer. This fundamentally allows us to shape market demand.”