July 1, 2022

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

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

It is estimated that ANIL production will reach approximately one million metric tons of green hydrogen per year (Mtpa) by 2030, supported by approximately 30 gigawatts (GW) of new renewable generation capacity.

This investment in ANIL, whose financial details have not been disclosed, represents another significant step in the strategic alliance between TotalEnergies and Adani Group, whose operations in India include LNG plants, gas utility companies, renewable energy generation and now green hydrogen production.

“TotalEnergies’ entry into ANIL is a significant milestone in the implementation of our low carbon hydrogen strategy, as we want to not only decarbonize hydrogen used in European refineries by 2030, but also lead in mass production of green hydrogen to meet demand as the market takes off later in this contract, said Patrick Boyani, Chairman and CEO of TotalEnergies.

“The strategic value of the Adani-TotalEnergies relationship is enormous both in commercial terms 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 its 2.35 gigawatt portfolio of operating solar assets. AGEL with a total investment of 2500 million dollars (2390 million euros).

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