What is Adani-TotalEnergies deal that aims to develop world's biggest green hydrogen ecosystem
India Today
This is as part of a deal with Adani Enterprises Ltd to develop the world's biggest green hydrogen ecosystem, the companies said on Tuesday.
French energy major TotalEnergies will buy a 25 per cent stake in Adani New Industries Ltd (ANIL). Adani and TotalEnergies will create the world's largest green hydrogen ecosystem. Adani New Industries Ltd will invest $50 Billion in green hydrogen.
This is as part of a deal with Adani Enterprises Ltd to develop the world's biggest green hydrogen ecosystem, the companies said on Tuesday. Here is all you need to know about Adani-TotalEnergies deal.
This is India's largest commitment to green hydrogen by a company.
India, the world's third-biggest emitter of carbon dioxide, plans to produce 5 million tonnes of green hydrogen annually by 2030 to help become a net-zero carbon emitter by 2070, according to a Reuters report.
ANIL aims to invest $50 billion over a decade in green hydrogen and associated ecosystem. In the initial phase, it plans to develop green hydrogen production capacity of one million tonnes per year by 2030.
India has announced incentive schemes and companies including Reliance Industries, Indian Oil Corp and Adani Group have pledged to invest billions of dollars to develop clean energy projects in India.
Green hydrogen, produced using renewable energy, has some of the best environmental credentials of the various shades of the clean-burning fuel.
