Adani, India’s fastest expanding diverse company portfolio, and TotalEnergies, France’s energy supermajor, have formed a new cooperation to establish the world’s biggest green hydrogen ecosystem. TotalEnergies will purchase a 25% minority stake in Adani New Industries Ltd (ANIL) from Adani Enterprises Ltd as part of this strategic agreement (AEL).

The new collaboration, focusing on green hydrogen, is projected to revolutionise the energy landscape in India and throughout the world. Both Adani and TotalEnergies are leaders in energy transition and sustainable energy adoption, and this collaborative energy platform reinforces both firms’ stated ESG commitments. ANIL’s objective is to spend more than USD 50 billion in green hydrogen and the accompanying ecosystem over the next ten years. ANIL will create a green hydrogen production capacity of 1 million tonnes per year before 2030 in the first phase.

“The strategic value of the Adani-TotalEnergies relationship is immense at both the business level and the ambition level,” ANI quoted Gautam Adani, Chairman, Adani Group, as saying. “In our journey to become the largest green hydrogen player in the world, the partnership with TotalEnergies adds several dimensions that include R&D, market reach and an understanding of the end consumer. This fundamentally allows us to shape market demand. This is why I find the continued extension of our partnership to hold such great value. Our confidence in our ability to produce the world’s least expensive electron is what will drive our ability to produce the world’s least expensive green hydrogen. This partnership will open up a number of exciting downstream pathways.”

“TotalEnergies’ entry into ANIL is a major milestone in implementing our renewable and low carbon hydrogen strategy, where we want to not only decarbonize the hydrogen used in our European refineries by 2030 but also pioneer the mass production of green hydrogen to meet demand, as the market will take off by the end of this decade,” ANI quoted Patrick Pouyanne, Chairman and CEO of TotalEnergies, as saying. “We are also very pleased with this agreement, which further strengthens our alliance with the Adani Group in India and contributes to the valorization of India’s abundant low-cost renewable power potential. This future production capacity of 1 million ton per annum of green hydrogen will be a major step in increasing TotalEnergies’ share of new decarbonized molecules including biofuels, biogas, hydrogen, and e-fuels to 25 per cent of its energy production and sales by 2050.”

This collaboration focuses on the tremendous synergies that exist between the two platforms. While Adani will bring deep knowledge of the Indian market, rapid execution capabilities, operational excellence, and a capital management philosophy to the partnership, TotalEnergies will bring deep knowledge of the global and European markets, credit enhancement and financial strength to lower financing costs, and expertise in underlying technologies. The partners’ complementary skills will enable ANIL to offer the world’s biggest green hydrogen ecosystem, resulting in the lowest cost of Green Hydrogen to the customer and accelerating the global energy transition.

ANIL aspires to be the world’s largest fully integrated green hydrogen player, with a presence across the entire value chain, from the manufacture of renewables and green hydrogen equipment (solar panels, wind turbines, electrolysers, etc.) to large-scale green hydrogen generation and downstream facilities producing green hydrogen derivatives.

(This story has been published from a wired agency with some changes to the text and headline)