Adani, TotalEnergies join hands to invest $50 billion in green hydrogen

Gautam Adani, chairman, Adani Group said, he is confident the company will produce the world's least expensive green hydrogen

French giant TotalEnergies will buy a quarter of the equity in Adani New Industries Ltd (ANIL), a part of Gautam Adani’s eponymous group. The Adani group did not disclose the value of the deal. Instead, it talked about ANIL investing $50 billion over 10 years in green hydrogen and, in the initial phase, building a production capacity of 1 million tonnes a year for green hydrogen before 2030.

ANIL is critical to Adani’s ambition of becoming the world’s cheapest producer of green hydrogen, the zero-emission fuel that can propel the world’s decarbonisation drive but has yet to be produced in a