Adani Group Expands into Green Hydrogen with Merger of Subsidiaries
Key Ideas
- Gautam Adani, with a massive net worth, is expanding the Adani Group's presence in green hydrogen.
- Adani Group merged two of its subsidiaries with Adani New Industries Ltd to focus on green hydrogen and wind turbine manufacturing.
- ANIL, a wholly owned subsidiary of Adani Enterprises Ltd, is undertaking low-carbon projects in the energy and utilities sector globally.
- French energy giant TotalEnergies holds a 25% equity stake in ANIL, emphasizing international collaboration in green energy initiatives.
Gautam Adani, one of India's wealthiest businessmen, is leading the Adani Group's venture into green hydrogen by merging two subsidiaries, Adani Infrastructure Private Limited and Mundra Solar Technology Limited, with Adani New Industries Ltd (ANIL). The move aims to focus on green hydrogen and wind turbine manufacturing within the group's diverse interests that include ports, airports, and power sectors. ANIL, a wholly owned subsidiary of Adani Enterprises Ltd, is valued at Rs 3.56 lakh crore and specializes in low-carbon projects, particularly in green hydrogen initiatives.
Adani Infrastructure and Developers, previously engaged in real estate and power projects, will now contribute to ANIL's green energy efforts. Mundra Solar Technology's expertise in electricity distribution will further enhance ANIL's capabilities in sustainable energy solutions. ANIL is currently developing facilities for solar glass production and other key components for its solar cell and module manufacturing process.
Notably, the collaboration with French energy giant TotalEnergies, holding a 25% equity stake in ANIL, highlights the global partnership in advancing green energy technologies. This strategic merger positions Adani Group as a key player in the renewable energy sector, emphasizing its commitment to sustainable practices and environmental stewardship.