: Adani and Total Energies to create worlds largest green hydrogen ecosystem #IndiaNEWS #Business Ahmedabad, June 14 | Adani, Indias fastest-growing diversified business portfolio, and energy supermajor

Adani and Total Energies to create worlds largest green hydrogen ecosystem #IndiaNEWS #Business
Ahmedabad, June 14 | Adani, Indias fastest-growing diversified business portfolio, and energy supermajor Total Energies of France, have entered into a new partnership to jointly create the worlds largest green hydrogen ecosystem. In this strategic alliance, Total Energies will acquire a 25 per cent minority interest in Adani New Industries Ltd (ANIL) from Adani Enterprises Ltd (AEL).
The new partnership, centered on green hydrogen, is expected to transform the energy landscape both in India and globally. Both Adani and Total Energies are pioneers in energy transition and clean energy adoption, and this joint energy platform further strengthens the public ESG commitments made by both companies.
ANILs ambition is to invest over billion over the next 10 years in green hydrogen and associated ecosystem. In the initial phase, ANIL will develop green hydrogen production capacity of 1 million tonne per annum before 2030.
The strategic value of the Adani-Total Energies relationship is immense at both the business level and the ambition level, said Mr. Gautam Adani, Chairman, Adani Group.
In our journey to become the largest green hydrogen player in the world, the partnership with Total Energies adds several dimensions that include RD, market reach and an understanding of the end consumer. This fundamentally allows us to shape market demand. This is why I find the continued extension of our partnership to hold such great value. Our confidence in our ability to produce the worlds least expensive electron is what will drive our ability to produce the worlds least expensive green hydrogen. This partnership will open up a number of exciting downstream pathways.
Total Energies entry into ANIL is a major milestone in implementing our renewable and low carbon hydrogen strategy, where we want to not only decarbonize the hydrogen used in our European refineries by 2030, but also pioneer the mass production of green hydrogen to meet demand, as the market will take off by the end of this decade, said Mr. Patrick Pouyanne, Chairman and CEO of Total Energies.
We are also very pleased with this agreement, which further strengthens our alliance with the Adani Group in India and contributes to the valorization of Indias abundant low-cost renewable power potential. This future production capacity of 1 million ton per annum of green hydrogen will be a major step in increasing Total Energies share of new decarbonized molecules including biofuels, biogas, hydrogen, and e-fuels to 25 per cent of its energy production and sales by 2050.
This partnership builds on the exceptional synergies between the two platforms. While Adani will bring its deep knowledge of the Indian market, rapid execution capabilities, operations excellence and capital management philosophy to the partnership, Total Energies will bring its deep understanding of the global and European market, credit enhancement and financial strength to lower the financing costs, and expertise in underlying technologies.

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