Adani Group and French energy giant Total Energies have entered into yet another partnership to build the ‘world’s largest green hydrogen ecosystem’.
Adani Enterprises informed the stock exchanges about this strategic alliance that TotalEnergies will buy 25% stake in Adani New Industries Ltd (ANIL) from Adani Enterprises Ltd(AEL).
Adani New Industries plans to invest more than $50 billion in the development of green hydrogen and related ecosystems over the next decade.
In the initial phase, ANIL will develop green hydrogen capacity of one million tonnes every year before 2030. At a time when the country is dependent on coal for more than 70 percent of its electricity, Adani’s effort to remove India’s dependence on coal for electricity is significant.
Let us tell you that the continuous rise in the shares of Adani Group companies has made Gautam Adani in the top rank of Asia’s richest people.