Total Energies likely join hands with Adani for hydrogen business in India

The French oil and gas major, Total Energies is expected to take up a 10 per cent or more minority stake of in Adani group’s hydrogen business in India. It is reported that the deal is currently in final stages and an announcement is likely from them.  

Talks assume significance even as the Indian Government has recently announced a National Hydrogen Policy (NHP). Under NHP an annual hydrogen production target of 5 million tonnes set for 2030, for which the government provides tax breaks and allots land to set up plants.

In India, Total had earlier partnered with Adani in 2018 with investments in Adani Gas Limited, city gas distribution business, associated LNG terminal business and gas marketing business.

Adani had earlier announced in November 2021 that his group will invest $70 billion to position itself as the world’s largest green energy company.