TotalEnergies to acquire 25% stake in Adani New Industries Ltd from Adani Ent

On Tuesday, June 14, France energy major TotalEnergies announced to acquire a 25% stake in Adani New Industries Ltd (ANIL). ANIL is a subsidiary of Adani Enterprises Ltd. The partnership aims to create the world’s largest green hydrogen ecosystem.

ANIL plans to invest $50 billion over the next 10 years in the production of green hydrogen. The company further aims to develop a 1 million ton per annum production capacity of green hydrogen before 2030.

Adani Group’s Chairman, Gautam Adani has termed this partnership important at both business and ambition levels. “The strategic value of the Adani-TotalEnergies relationship is immense at both the business level and the ambition level,” said the chairman.

“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,” said CEO of TotalEnergies, Patrick Pouyanne.