TotalEnergies Signs Agreement With Indian Company Adani Enterprises Limited (AEL) For Investments In Green Hydrogen Production

Written by Ruth Rodrigues

Published on 15/06/2022 at 18:37

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TotalEnergies Advances in the Search for a Low-Carbon Market and Will Invest in Green Hydrogen Production After Signing a Contract with AEL to Acquire 25% Stake in ANIL, Aiming to Diversify Its Fuel Production Chain.

TotalEnergies announced last Tuesday, (06/14), a new venture in the energy production sector. This involves the acquisition of a 25% stake in Adani New Industries Limited (ANIL), after an agreement was made with the Indian company Adani Enterprises Limited (AEL). Thus, the energy company will invest in green hydrogen production in pursuit of a low-carbon market over the coming years with the new venture.

TotalEnergies Acquires 25% Stake in ANIL to Focus on Green Hydrogen Production Market after Signing a Contract with Indian Company AEL

The recent agreement made with Indian company AEL now places TotalEnergies on a new path in the international energy market, that of green hydrogen production, the new bet of the sector for the decarbonization of industries in the future.

Thus, the company purchased a total stake of 25% in ANIL, a platform focused exclusively on the production of the resource in Indian territory, aimed at commercialization with other countries in the international market.

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Additionally, AEL stated that ANIL will target a production of one million metric tons of the energy vector per year (Mtpa) by 2030, focusing on the international renewable energy market.

To kick off the green hydrogen production plan, the company will develop a project to produce 1.3 Mtpa of urea derived from green hydrogen for the Indian domestic market, replacing current urea imports. More than US$ 5 billion will be invested over the coming years.

And, with TotalEnergies joining ANIL, investments alongside AEL for the project could be even greater. Thus, the president and CEO of TotalEnergies, Patrick Pouyanné, celebrated: “TotalEnergies’ entry into ANIL is an important milestone in implementing our low-carbon hydrogen strategy. Where we aim not only to decarbonize the hydrogen used in our European refineries by 2030 but also to lead the mass production of green hydrogen to meet demand, as the market will take off by the end of this decade.”

Partnership Between the Companies Will Be Essential to Ensure Greater Efficiency in the Green Hydrogen Production Project Developed by ANIL

With the partnership established between the companies, AEL will be able to assist the energy company in providing more information about the Indian market, as well as knowledge in operations and project management in the region.

TotalEnergies, on the other hand, will contribute its experience in renewable technologies and large-scale industrial projects and financial stability, allowing ANIL to reduce its financing costs. Thus, green hydrogen production projects will be able to be carried out with much greater efficiency.

Moreover, the oil company also emphasized that the agreement will enable a new direction for TotalEnergies and AEL’s operations in the region. Since operations in India that include LNG terminals, gas utility businesses, renewable energy generation, and now green hydrogen production could be expanded in the coming years.

Finally, the role of the partnership will be of utmost importance for the energy transition that the international market has been pursuing in recent years.

TotalEnergies and AEL began their partnerships in 2018, focusing on natural gas production, and now they are expanding into the fuel market, aiming for a new market that is increasingly growing among countries, that of green hydrogen.

TotalEnergies Signs Agreement With Indian Company Adani Enterprises Limited (AEL) For Investments In Green Hydrogen Production

TotalEnergies Advances in the Search for a Low-Carbon Market and Will Invest in Green Hydrogen Production After Signing a Contract with AEL to Acquire 25% Stake in ANIL, Aiming to Diversify Its Fuel Production Chain.

TotalEnergies Acquires 25% Stake in ANIL to Focus on Green Hydrogen Production Market after Signing a Contract with Indian Company AEL

Partnership Between the Companies Will Be Essential to Ensure Greater Efficiency in the Green Hydrogen Production Project Developed by ANIL

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TotalEnergies Signs Agreement With Indian Company Adani Enterprises Limited (AEL) For Investments In Green Hydrogen Production

TotalEnergies Advances in the Search for a Low-Carbon Market and Will Invest in Green Hydrogen Production After Signing a Contract with AEL to Acquire 25% Stake in ANIL, Aiming to Diversify Its Fuel Production Chain.

TotalEnergies Acquires 25% Stake in ANIL to Focus on Green Hydrogen Production Market after Signing a Contract with Indian Company AEL

Partnership Between the Companies Will Be Essential to Ensure Greater Efficiency in the Green Hydrogen Production Project Developed by ANIL

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