Adani Group plans $9 billion investment in Green Hydrogen

Adani New Industries Ltd., a subsidiary of the Adani conglomerate, is developing green hydrogen projects in Gujarat's Rann of Kutch that will export the green fuel to Europe and several Asian countries.

The Adani Group is reportedly planning a $9 billion investment in manufacturing and transportation infrastructure as the first phase of its green hydrogen initiative.

Adani New Industries Ltd., a subsidiary of the Adani conglomerate, is developing green hydrogen projects in Gujarat’s Rann of Kutch. Once production begins, the Adani Group plans to charter specialized ships to export green hydrogen to Europe and several Asian countries. According to sources, this is the most significant entry into green hydrogen by any Indian group.

This aligns with India’s commitment to achieve net-zero emissions by 2070. The Adani Group initiative is also expected to create 7,500-10,000 new jobs, especially in the logistics sector.

The Adani Group project will be executed in four to five phases. The first phase aims to reach a production capacity of 1 million tonnes per annum (mtpa) of green hydrogen. Approximately $4 billion will be invested in manufacturing the necessary components and equipment for the plants. The goal is to develop 0.5 mtpa in the next two to three years before scaling up to 1 mtpa.

Transporting green hydrogen is a complex task requiring dedicated focus, according to a source. The Adani Group plans to use its west coast ports to export green hydrogen to European and Asian markets. The primary end users will be government and municipal entities, utilizing the green hydrogen for buses, trains, and metros.

This initiative will support the government’s mission to replace 40% of the country’s hydrogen consumption with green hydrogen by 2030.

I Am Renew reported recently that Adani Group wants to secure $2.6 billion in funding from leading sovereign funds in the Middle East to fuel its green hydrogen initiatives.

In the beginning of this year, Gautam Adani said that green hydrogen will play a pivotal role in India’s journey towards achieving net-zero carbon emissions and suggested that the current high cost of green hydrogen could be mitigated by adopting a model similar to the successful one employed in the solar power industry.

(Visited 75 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *

9 + 14 =