Adani Group announces strategic collaboration with Italy based Snam

The Adani Group added a new chapter to its legacy of nation-building by announcing strategic collaboration with Italy-based Snam, Europe's leading gas infrastructure company. The collaboration, an integral part of the virtual summit between Indian Prime Minister, Narendra Modi and Italian Prime Minister, Giuseppe Conte, would envisage exploration of the hydrogen value chain in India and global markets, as well as the development of biogas, biomethane, and low-carbon mobility.

As part of the strategic partnership, Adani Group and Snam intend to explore several opportunities in the energy space, where each Group brings complementary capabilities to the table. Both Adani Group and Snam have a strong interest in exploring the promise of green hydrogen. While Snam has been a strong proponent of hydrogen adoption in Europe, green hydrogen is a natural extension to the Adani Group's ambitious renewable portfolio.

Further, a non-binding agreement has been signed between Snam and Adani Gas Limited [a joint venture company of Adani Group and Total of France (formerly known as Total SA)] to create a joint venture for setting-up a CNG compressors manufacturing facility in India. This would help in promoting the development of refueling infrastructure for sustainable mobility and fostering the use of natural gas, as envisioned by the Government of India.

Powered by Capital Market - Live News