TotalEnergies to purchase 25% interest in Adani

TotalEnergies will acquire 25% minority interest in Adani New Industries Ltd (ANIL) from Adani Enterprises Ltd (AEL). The deal is part of new strategic alliance to develop green hydrogen ecosystem.

Adani group and TotalEnergies have entered into a new partnership to jointly create the world’s largest green hydrogen ecosystem.

ANIL plans to invest over $50 billion over the next 10 years in green hydrogen and associated ecosystem.

In the initial phase, the company will develop green hydrogen production capacity of 1 million ton per annum before 2030.