TotalEnergies to Invest in Adani New IndustriesADANIENT - 2850 Change: 27.80 (0.99 %)
News: French multi-energy major TotalEnergies will invest $12.5 billion for a 25% stake in a new clean energy services company Adani New Industries. According to Gautam Adani, Adani New Industries aims to invest over $50 billion over the next 10 years in green hydrogen and associated ecosystem that includes solar panels, wind turbines and electrolysers.
Views: A deal with TotalEnergies will help Adani New Industries to establish itself as the key player into Green Hydrogen business with. This partnership builds on the exceptional synergies between the two platforms. While Adani will bring its deep knowledge of the Indian market, rapid execution capabilities, operations excellence and capital management philosophy to the partnership, TotalEnergies will bring its deep understanding of the global and European market, credit enhancement and financial strength to lower the financing costs, and expertise in underlying technologies. With this partnership both the companies aim to create the world’s largest green hydrogen ecosystem. Adani New Industries will develop green hydrogen production capacity of 1 million ton per annum before 2030 and aims to become the largest green hydrogen player in the world.