Tuesday, June 28, 2022
BusinessAdani Group to invest over $50 billion in green hydrogen in next...

Adani Group to invest over $50 billion in green hydrogen in next 10 years

Adani Group plans to invest $50 billion in green hydrogen over the next 10 years

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.


Read Also | LIC shares jump, the trend of decline since 10 days is broken


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.

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