Adani Enterprises jumps 4% on pact with TotalEnergies for green hydrogen

TotalEnergies to acquire 25 per cent minority interest in Adani New Industries from Adani Enterprises.

Adani group, adani enterprises
SI Reporter Mumbai
2 min read Last Updated : Jun 14 2022 | 11:17 AM IST
Shares of Adani Enterprises (AEL) jumped 4 per cent to Rs 2,157 on the BSE in Tuesday’s trade after Adani and TotalEnergies of France entered into a new partnership to jointly create the world’s largest green hydrogen ecosystem.

In this strategic alliance, TotalEnergies will acquire 25 per cent minority interest in Adani New Industries (ANIL) from AEL. ANIL’s ambition is to invest over $50 billion over the next 10 years in green hydrogen and associated ecosystem. This is India’s largest commitment to green hydrogen by a company. In the initial phase, ANIL will develop green hydrogen production capacity of 1 million ton per annum before 2030.

The new partnership, centered 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 Enterprises said in a media release.

ANIL aims to be the largest fully integrated green hydrogen player in the world, with 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.

AEL is leading decarbonization of industries and mobility through ANIL. TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity.


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Topics :Buzzing stocksAdani Enterprises LtdMarket trends

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