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TotalEnergies will buy 25% of ANIL from Adani for the production of green hydrogen in India

MADRID, 14 Jun.

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TotalEnergies will buy 25% of ANIL from Adani for the production of green hydrogen in India

MADRID, 14 Jun. (EUROPA PRESS) -

The French group TotalEnergies has reached an agreement with Adani Enterprises Limited (AEL) for the purchase of a 25% stake in Adani New Industries Limited (ANIL), which will be the exclusive platform for these two companies for the production and marketing of hydrogen green in India.

According to estimates, ANIL will reach a production of around one million metric tons of green hydrogen per year (Mtpa) by 2030, supported by around 30 gigawatts (GW) of new renewable energy generation capacity.

This investment in ANIL, of which the financial details have not been disclosed, represents another important step in the strategic alliance between TotalEnergies and Adani Group, whose operations in India include LNG terminals, gas utilities businesses, renewable energy generation and now green hydrogen production.

"TotalEnergies' entry into ANIL is an important milestone in the implementation of our low-carbon hydrogen strategy, where we want to not only decarbonize the hydrogen used in our European refineries by 2030, but also pioneer the mass production of green hydrogen for meet demand as the market takes off later this decade," said Patrick Pouyanné, Chairman and CEO of TotalEnergies.

"The strategic value of the Adani-TotalEnergies relationship is immense both commercially and in terms of ambition," said Adani Group President Gautam Adani.

In 2018, TotalEnergies and Adani Group formed an energy partnership with the development of a joint LNG business. In 2020, the two companies deepened their relationship with TotalEnergies' acquisition of 20% of Adani Green Energy Limited (AGEL), then the world's largest solar developer, along with a 50% stake in a portfolio of 2.35 GW of operational solar assets owned by AGEL, for a total investment of 2,500 million dollars (2,390 million euros).

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India