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Adani New Industries Planning to Raise $4 Billion to Finance Green Hydrogen Projects

Last Updated on 30th October 2023

Adani Group will raise as much as USD 4 billion to develop green hydrogen manufacturing plants that will produce low-cost green hydrogen. The group is in early talks with domestic and international lenders for this fundraising round.

 

Gautam Adani, the group chairman, has informed in the past that about 75% of the group capital expenditure will be in green businesses. This includes an investment of over USD 20 billion over the next decade in the renewable energy sector and green component manufacturing-related infrastructure.

 

In September, French oil major TotalEnergies said it would invest around USD 300 million to form a joint venture with Adani New Industries Limited to build renewable energy projects in India. According to a report, the under-construction green hydrogen facility near Mundra in Gujarat with a capacity of 1 million MTA will be the first project to receive the capital investment from the above fund raising. The facility is slated to start its production by 2027.

 

About Adani New Industries Limited

ANIL (Adani New Industries Limited) is a subsidiary of Adani Enterprises which specializes in green hydrogen initiatives, and the production of wind turbines and solar modules. The scope of operations extends to the production of solar modules, batteries, and electrolyzers. Some of the major green hydrogen initiatives executed by ANIL in India include 

  • Mundra SEZ: Integrated Green H2 Hub
  • Khavda: Green H2 Generation Hub

 

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