Deal is a major step in TotalEnergies’ move to green molecules
TotalEnergies invests in Indian green hydrogen JV
French energy firm is working with Indian conglomerate Adani Enterprises on $5bn project initially to produce urea for Indian market
French energy firm TotalEnergies is to acquire a 25pc interest in green hydrogen venture Adani New Industries Limited (Anil) from Indian conglomerate Adani Enterpriseؙs, as it looks to expand its green hydrogen portfolio. In its initial stages, Anil will develop a project to produce 1.3mn t/yr of urea—a derivative of ammonia—from green hydrogen. The product will be aimed at the Indian domestic market, in an effort to displace imports. Anil will invest around $5bn in a 2GW electrolyser fed by renewable power from a 4GW solar and wind farm. It will target production of 1mn t/yr of green hydrogen by 2030, underpinned by around 30GW of new renewable power generation capacity. $5bn – Initia
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