Adani Enterprises has entered into a partnership with French multi-energy company TotalEnergies, in which the latter will acquire a 25% minority stake in Adani New Industries Ltd (ANIL), which focuses on green hydrogen. The latest agreement between the two parties now extends their cooperation to LNG terminals, gas supply business, renewable energy business and green hydrogen production.
“Adani, India’s fastest-growing diversified portfolio of businesses, and French energy supermajor TotalEnergies have entered into a new partnership to jointly create the world’s largest green hydrogen ecosystem,” Adani Enterprises told the exchange on Tuesday. “The new partnership, focused on green hydrogen, is set 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 both companies’ public ESG commitments.”
Adani Enterprises, led by Gautam Adani, established Adani New Industries as a wholly owned subsidiary in January this year to break into the green energy segment after competitor Reliance Industries, headed by Mukesh Ambani, announced similar plans. The subsidiary was formed to produce cheaper green hydrogen, wind turbines, solar panels and batteries, and other components related to low-carbon energy.
“Incurable gamer. Infuriatingly humble coffee specialist. Professional music advocate.”
