spot_img
Tuesday, June 28, 2022
No menu items!
More
    spot_img
    HomeBusinessAdani Enterprises share price jumps 4%, firm joins hands with TotalEnergies to...

    Adani Enterprises share price jumps 4%, firm joins hands with TotalEnergies to invest $50 bn in green hydrogen

    -

    Adani Enterprises share price surged nearly 4 per cent to Rs 2,161.90 apiece on BSE on Tuesday.

    Adani Enterprises share price surged nearly 4 per cent to Rs 2,161.90 apiece on BSE on Tuesday. French energy major TotalEnergies will pick a 25 per cent stake in Adani New Industries (ANIL) from Adani Enterprises to jointly build the world’s largest green hydrogen ecosystem. Adani New Industries will invest over $50 billion over the next 10 years in green hydrogen and associated ecosystems. In the initial phase, the company will develop green hydrogen production capacity of 1 million ton per annum before 2030. 

    Adani Enterprises stock has risen 44 per cent in one year, 26 per cent in six months, and 25.8 per cent so far in the year. In the traded volume terms, a total of 1.02 lakh shares have exchanged hands, while 24.92 lakh stocks traded on the National Stock Exchange so far in the trade.

    This is the fourth partnership between the two companies with previous one’s focused on LNG terminals, the gas utility business, and renewables business. Gautam Adani is confident that the company will produce the world’s least expensive electron. “This will drive our ability to produce the world’s least expensive green hydrogen. This partnership will open up a number of exciting downstream pathways,” Gautam Adani, Chairman, Adani Group, said in a press release.

    Adani New Industries intends to become the largest fully integrated green hydrogen player in the world, with presence across the entire value chain, from the manufacturing of renewables and green hydrogen equipment (solar panels, wind turbines, electrolysers, etc.), to large scale generation of green hydrogen, to downstream facilities producing green hydrogen derivatives. 

    In September 2021, Gautam Adani had said that Adani Enterprises will invest $20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world’s cheapest green electron. Adani planned to triple its renewable power generation capacity over the next four years, foray into green hydrogen production, power all data centres with renewable energy, turn its ports into net carbon zero by 2025, and plans to spend over 75 per cent of capital expenditure until 2025 in green technologies.

    Related articles

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Stay Connected

    0FansLike
    0FollowersFollow
    3,368FollowersFollow
    0SubscribersSubscribe
    spot_img

    Latest posts