Adani Group forms JV for green hydrogen marketing and sales
New Delhi: Adani Global Pte Ltd., Singapore, a wholly-owned subsidiary of Adani Enterprises Ltd., on Thursday announced a 50:50 joint venture (JV) with Kowa Holdings Asia Pte Ltd., Singapore, for sales and marketing of green ammonia, green hydrogen and its derivatives, the company said here in a statement. “The green hydrogen and its derivatives are to be manufactured in India under Adani New Industries Limited (ANIL). The JV will concentrate on marketing of products in Japan, Taiwan and Hawaii," the company added.
ANIL is the green hydrogen platform of the Adani Group, and is engaged in the business of developing end-to-end solutions to produce green hydrogen and its associated sustainable derivatives at scale. The first project of ANIL of 1 million metric tonne per annum (MMTPA) green hydrogen is being implemented in phases in Gujarat. The initial phase is expected to start production by FY227.
Depending on market conditions, ANIL aims to increase capacity up to 3 MMTPA of green hydrogen in the next 10 years, with an investment of about $50 billion, the company added. “ANIL’s strategy is focused on the development of an integrated hydrogen ecosystem with three business streams - Manufacturing of supply chain products (i.e. solar- polysilicon, ingot, wafer, cell & module, etc.), green hydrogen generation, production of downstream derivative products," the company added.
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