Adani Group has partnered with Total Energies, one of the world's leading green hydrogen producers, to build the world's largest green hydrogen ecosystem, investing more than $50 billion over the next ten years.
In the first phase, the business plans to have a green hydrogen production capacity of one million tones per year by 2030.
Total Energies will purchase a 25% minority stake in Adani New Industries (ANIL) from Adani Enterprises (AEL) as part of this agreement .
"The strategic significance of the Adani-Total Energies alliance is enormous at both the commercial and aspiration levels," Adani Group Chairman Gautam Adani said in a statement. According to him, the collaboration would enable Adani Group to influence market demand and manufacture the world's least priced electron and green hydrogen.
When fully operational, the company will be the world's largest fully integrated green hydrogen player, with a presence across the entire value chain, from the production of renewables and green hydrogen equipment (solar panels, wind turbines, electrolysis, etc.) to large-scale green hydrogen generation and downstream facilities producing green hydrogen derivatives.
According to company executives, the partnership will leverage Adani's diverse portfolio of business assets, which includes liquefied natural gas (LNG) terminals, the gas utility business, renewables, and green hydrogen production, to support decarbonization of industry, power generation, mobility, and agriculture, thereby mitigating climate change and ensuring energy independence.
Overall Energies Chairman and Chief Executive Officer (CEO) Patrick Pouyanne stated that the total capacity of 1 million tones per year of green hydrogen will be a significant step in raising Total's share of new decarbonized molecules. This includes biofuels, biogas, hydrogen, and e-fuels, which will account for 25% of its energy output and sales by 2050, Pouyanne stated.