+
Gautam Adani ready for independent hydrogen mega-project
POWER & RENEWABLE ENERGY

Gautam Adani ready for independent hydrogen mega-project

Gautam Adani of India expressed his readiness to independently invest billions of dollars in the development of green hydrogen within India. This decision came after TotalEnergies SE postponed its plan to become a partner in the venture.

The French energy company had initially agreed to acquire a 25% stake in Adani New Industries, with the exact amount undisclosed. This move was intended to provide funding for green hydrogen projects in India, as the country, ranked as the world’s third-largest polluter, aimed to reduce carbon emissions. However, Total suspended its investment in February due to allegations of fraud against the Adani Group made by a short seller. The conglomerate denied these charges.
Adani's initial foray into green hydrogen involves a $5 billion integrated facility. This facility will encompass manufacturing units for wind turbines and solar panels, as well as renewable energy generation capacity. The project serves as a starting point for the group's larger plan, which involves investing over $50 billion by the end of the decade to advance the development of this fuel.

According to Jugeshinder Singh, the Chief Financial Officer at Adani Enterprises, the construction of the facility will not be hindered by Total's equity. During a recent investor meeting, he stated, "We are proceeding with the project as planned and at the same pace."

Singh's remarks could indicate that the group is regaining the support of investors and lenders following a period of uncertainty due to the allegations made by the short seller.

Prominent figures like Adani and his competitor Mukesh Ambani are placing their bets on green hydrogen as Prime Minister Narendra Modi strives to establish India as a leader in this emerging technology. Green hydrogen is being considered as a substitute for fossil fuels in various sectors, ranging from steel production to oil refining and fertilizer manufacturing. India's goal is to achieve a yearly production of 5 million tons of green hydrogen by 2030, catering to both domestic demand and potential export markets.

Total has previously invested in four Adani companies. Singh clarified that the memorandum of understanding regarding hydrogen remains intact. He added, "If they show interest in a fifth investment, we will certainly welcome it." However, he emphasized that this doesn't necessarily imply a joint investment decision.

Also read: 

Taylormade Renewables gets Rs 1.59 bn order from Andhra Pradesh                            

India revamping energy codes for sustainable buildings                              



Gautam Adani of India expressed his readiness to independently invest billions of dollars in the development of green hydrogen within India. This decision came after TotalEnergies SE postponed its plan to become a partner in the venture.The French energy company had initially agreed to acquire a 25% stake in Adani New Industries, with the exact amount undisclosed. This move was intended to provide funding for green hydrogen projects in India, as the country, ranked as the world’s third-largest polluter, aimed to reduce carbon emissions. However, Total suspended its investment in February due to allegations of fraud against the Adani Group made by a short seller. The conglomerate denied these charges.Adani's initial foray into green hydrogen involves a $5 billion integrated facility. This facility will encompass manufacturing units for wind turbines and solar panels, as well as renewable energy generation capacity. The project serves as a starting point for the group's larger plan, which involves investing over $50 billion by the end of the decade to advance the development of this fuel.According to Jugeshinder Singh, the Chief Financial Officer at Adani Enterprises, the construction of the facility will not be hindered by Total's equity. During a recent investor meeting, he stated, We are proceeding with the project as planned and at the same pace.Singh's remarks could indicate that the group is regaining the support of investors and lenders following a period of uncertainty due to the allegations made by the short seller.Prominent figures like Adani and his competitor Mukesh Ambani are placing their bets on green hydrogen as Prime Minister Narendra Modi strives to establish India as a leader in this emerging technology. Green hydrogen is being considered as a substitute for fossil fuels in various sectors, ranging from steel production to oil refining and fertilizer manufacturing. India's goal is to achieve a yearly production of 5 million tons of green hydrogen by 2030, catering to both domestic demand and potential export markets.Total has previously invested in four Adani companies. Singh clarified that the memorandum of understanding regarding hydrogen remains intact. He added, If they show interest in a fifth investment, we will certainly welcome it. However, he emphasized that this doesn't necessarily imply a joint investment decision.Also read:  Taylormade Renewables gets Rs 1.59 bn order from Andhra Pradesh                             India revamping energy codes for sustainable buildings                              

Next Story
Equipment

Liebherr secures 130-dozer deal with Turkey’s State Hydraulic Works

Liebherr Turkey has signed a major equipment supply agreement with the Turkish State Hydraulic Works (DSİ) for the delivery of 130 crawler tractors to be used across the country’s key infrastructure and environmental projects.The agreement covers 120 PR 756 Litronic and 10 PR 736 Litronic crawler tractors, with production scheduled at Liebherr’s facility in Telfs, Austria. This marks a significant continuation of the long-standing collaboration between DSİ and Liebherr, which began over a decade ago with the delivery of PR 754 Litronic dozers.Designed for heavy-duty operations, the PR 75..

Next Story
Infrastructure Transport

Noida to Revamp Transport Nagar Chowk with Rs 4-Crore Beautification Plan

The Noida Authority has unveiled plans to redevelop Transport Nagar Chowk in Sector 67 with a Rs 4-crore beautification project. Aimed at enhancing connectivity, accessibility, and urban aesthetics, the project will upgrade a 500-metre stretch along DSC Road with modern, inclusive, and sustainable infrastructure.Officials stated that the stretch will be enhanced with ornamental lighting, sculptures, seating areas, bollards, food kiosks, and ramps for differently-abled individuals. A tender for the project is expected to be issued soon.Neelima Rana, partner at Orionn Architects—the firm behin..

Next Story
Infrastructure Transport

Centre Approves Noida Metro Extension to Bodaki Multimodal Hub

The Central government has approved the extension of the Noida Metro Aqua Line from Depot Station to the upcoming Multimodal Transport Hub (MMTH) at Bodaki, marking a major push for enhanced connectivity in the National Capital Region (NCR). The 2.6-km extension is expected to be completed within three years.The project, already cleared by the Uttar Pradesh Cabinet, will now move to the construction stage under the supervision of the Noida Metro Rail Corporation (NMRC). The extended route will include two additional stations — Junpat Village and Bodaki — connecting to the MMTH, which will ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?