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French co Total to acquire 25% stake in Adani New Industries to produce hydrogen

Press Release  

France-based TotalEnergies has entered into an agreement with Adani Enterprises Ltd (AEL) to acquire a 25% interest in Adani New Industries Ltd (ANIL), which will be the platform of AEL and TotalEnergies for the production and commercialization of green hydrogen in India. ANIL will target a production of one million metric tons of green hydrogen per year by 2030, underpinned by around 30 gigawatts (GW) of new renewable power generation capacity, as its first milestone. To start with, ANIL intends to develop a project to produce 1.3 mtpa of urea derived from green hydrogen for the domestic market, as a substitution to current urea imports, and will invest around USD 5 Billion in a 2 GW electrolyzer fed by renewable power from a 4 GW solar and wind farm.