TotalEnergies joins India’s hydrogen drive
NEW DELHI, June 15, 2022 – TotalEnergies has signed an agreement with Indian conglomerate Adani Group to acquire 25% interest in the world’s largest integrated green hydrogen company, the French super-major announced on Tuesday.
The newly formed Adani New Industries is targeting production of 1 million tonnes of green hydrogen per year in India through 30 GW of renewable power generation capacity from upcoming projects.
The joint venture’s first project involves producing 1.3 million tonnes per year of urea from green hydrogen. A total of around USD 5 billion is expected to be necessary to construct a 2 GW electrolyser and a 4 GW solar and wind farm.
First hydrogen production is expected between 2025 and 2026.
Cost of the acquired shares was not disclosed.