By 2028 Adani Group intends to establish its own hydrogen companies

24 Jan 2023 CW Team

According to Jugeshinder Singh, Chief Financial Officer of billionaire Gautam Adani's group, the company intends to spin off industries including hydrogen, airports, and data centres between 2025 and 2028 after they reach a specific investment profile. The group’s business incubator is Adani Enterprises Ltd (AEL), which aims to generate INR 200 billion through a follow-on share sale. Businesses including ports, power, and city gas were initially nurtured by AEL throughout the years before being split off or demerged into distinct public corporations.

AEL currently houses new businesses such as hydrogen, where the group plans to invest USD 50 billion over the next 10 years across the value chain, flourishing airport operations, mining, data centre and roads and logistics. “Before a demerger is considered, the firms must have a fundamental investment profile and reach a certain level of maturity. We believe that these companies can reach the necessary thresholds for a demerger between 2025 and 2028,” said Singh.

The company aims to become one of the most affordable producers of hydrogen, a fuel with no carbon imprint that will be used in the future. In order to surpass government services in the next years as the largest service base in the nation, it is also placing significant bets on its airport business. Along with paying down some of its debt, AEL will use the funds collected to finance green hydrogen projects, airport infrastructure, and greenfield motorways.

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