PARIS (Agefi-Dow Jones)–Energy producer TotalEnergies announced on Tuesday that it has reached an agreement with the Indian group Adani Enterprises Limited (AEL) to acquire a 25% stake in Adani New Industries Limited (ANIL).
“ANIL will be the exclusive platform of AEL and TotalEnergies for the production and commercialization of large-scale green hydrogen in India,” the group said in a press release. The amount of the investment has not been specified.
ANIL aims to produce one million tonnes of green hydrogen per year by 2030, based on new renewable electricity production capacity of around 30 gigawatts.
“Our stake in ANIL is a major step in the implementation of our low-carbon hydrogen strategy, which aims both to decarbonize all of the hydrogen consumed by our European refineries by 2030, and to of TotalEnergies a pioneer in the mass production of green hydrogen in order to be able to meet the demand, which will take off by the end of the decade”, indicated Patrick Pouyann, the CEO of TotalEnergies, quoted in a press release.
TotalEnergies already cooperates with Adani in liquefied natural gas and solar energy.
-Julien Marion, Agefi-Dow Jones; +33 (0)1 41 27 47 94; [email protected] ed: VLV
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June 14, 2022 00:53 ET (04:53 GMT)