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French company TotalEnergies to buy 25% stake in Adani new industries for world’s largest green hydrogen system

By Priyanka Verma 
Updated Date

NEW DELHI: On Tuesday, The Adani Group has partnered with energy major TotalEnergies of France to jointly create the world’s largest green hydrogen ecosystem. As part of this strategic tie-up, TotalEnergies will acquire 25% minority interest in Adani New Industries Ltd (ANIL) from Adani Enterprises Ltd (AEL), according to a media statement by the Indian establishment.

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After the tie-up both the company said, “The new partnership, centred on green hydrogen, is expected to transform the energy landscape both in India and globally. Both Adani and TotalEnergies are pioneers in energy transition and clean energy adoption, and this joint energy platform further strengthens the public ESG commitments made by both companies.”

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 a statement Adani said, “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. This is why I find the continued extension of our partnership to hold such great value. Our confidence in our ability to produce the world’s least expensive electron is what will drive our ability to produce the world’s least expensive green hydrogen. This partnership will open up a number of exciting downstream pathways.”

In a statement Patrick Pouyanné, chairman and CEO of TotalEnergies said, “TotalEnergies’ 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.”

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“The complementary strengths of the partners will help ANIL deliver the largest green hydrogen ecosystem in the world, which, in turn, will deliver the lowest cost of Green Hydrogen to the consumer and help accelerate the global energy transition,” said Adani. With this investment in ANIL, the strategic alliance between the Adani Portfolio and TotalEnergies now covers LNG terminals, the gas utility business, renewables business and green hydrogen production, it adds.

“ANIL aims to be the largest fully integrated green hydrogen player in the world,” said the two companies, adding that Adani New will have a presence across the entire value chain, from the manufacturing of renewables and green hydrogen equipment (solar panels, wind turbines, electrolysers, etc.), to large scale generation of green hydrogen, to downstream facilities producing green hydrogen derivatives.

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