ANIL raises funds for green hydrogen from Barclays, Deutsche Bank

Adani New Industries Ltd (ANIL), a subsidiary of Adani Enterprises, has secured a trade finance facility worth $394 million from Barclays Plc and Deutsche Bank. The funds will be utilized to meet the working capital requirements of ANIL’s solar module manufacturing facility. ANIL aims to establish a comprehensive ecosystem for green hydrogen, incorporating solar module and wind turbine manufacturing.

Established recently as a holding company, ANIL is responsible for overseeing Adani Enterprises’ entire supply chain related to new energies and emerging technologies.

ANIL has ambitious plans to invest $50 billion over the next decade to develop an extensive green hydrogen ecosystem. The primary goal is to produce up to 3 million tonnes per annum of green hydrogen. Initially, the company intends to focus on developing a green hydrogen production capacity of up to 1 mtpa.

Adani New Industries is set to become a powerhouse in the renewable energy sector as it expands its manufacturing capabilities. Apart from its ambitious plans for the green hydrogen ecosystem, ANIL aims to diversify its portfolio to include the production of solar modules, batteries, and electrolyzers. This expansion also involves venturing into associated upstream manufacturing and ancillary industries, consolidating its position as a comprehensive and sustainable energy solutions provider. With these strategic moves, Adani New Industries is poised to play a pivotal role in shaping the future of renewable energy and furthering the adoption of green technologies on a global scale.

This significant investment in the green hydrogen sector reflects ANIL’s commitment to renewable energy and sustainable technologies. By integrating solar and wind turbine manufacturing with green hydrogen production, Adani New Industries aims to play a prominent role in the transition towards cleaner and more eco-friendly energy solutions.