The Adani Group is focusing on rapid investments in the green hydrogen sector, with reports claiming that they are working on developing a green hydrogen plant with an estimated investment of $4 billion. The company is in discussions with various domestic and international banks for funding this project. Adani Enterprises Limited’s subsidiary, Adani New Industries Limited, is leading the initiative. As of now, the Adani Group has not officially commented on this report.
Growing Interest in Green Hydrogen in India
This move aligns with the growing interest in green hydrogen in India, as the development of green hydrogen and related products is expected to accelerate in the coming years. A report from June suggested that TotalEnergies S.A. of France and Adani were planning to invest $5 billion in green hydrogen and related products in India. It’s evident that the Indian market is poised for rapid growth in the green hydrogen sector.
Adani’s Green Investment Strategy
Previously, Gautam Adani, the Chairman of the Adani Group, announced that 75% of the group’s investments would be directed towards green businesses. Their companies plan to invest $20 billion in the next decade in new energy, green energy plants, and associated foundational infrastructure. Additionally, a plant in Gujarat is under construction to produce 1 million metric tons of energy annually.
Reliance Industries’ Ambitious Green Energy Plans
In addition to the Adani Group, Reliance Industries, led by Mukesh Ambani, is also gearing up for substantial investments in the green energy sector. Their plan aims to make Reliance Industries the leading firm in India’s green energy sector by 2030.
The growing interest and investments in green energy and hydrogen production indicate a significant shift towards sustainable and renewable energy sources in India’s corporate landscape.