Tuesday, July 16, 2024
HomeAll NewsGreen HydrogenAdani plans to spend $9 billion to build manufacturing and transportation infrastructure...

Adani plans to spend $9 billion to build manufacturing and transportation infrastructure for green hydrogen business: Report

The Adani group plans to invest $9 billion in constructing manufacturing and transportation infrastructure for the initial phase of its ambitious green hydrogen initiative. This initiative is crucial for the conglomerate’s business goals and is seen as pivotal for India’s transition to net-zero emissions, given its ranking as the world’s third most polluted country, reported Live Mint.

As per report, once production commences, the Adani group intends to utilize specialized ships to export what is expected to be the world’s most cost-effective green hydrogen and its derivatives to Europe and select Asian countries, according to three individuals familiar with the conglomerate’s strategies, who spoke on condition of anonymity.

“This represents the most significant entry into green hydrogen planned by any group in the country,” one of the sources was quoted by Live Mint. In its first phase, Adani aims to achieve a capacity of 1 million tonnes per annum (mtpa) of green hydrogen, produced through the electrolysis of water using renewable energy.

Adani Group, operating through Adani New Industries Ltd., is undertaking one of India’s most ambitious green hydrogen projects, situated in the Rann of Kutch in Gujarat.

“The group is currently in the initial phase. Approximately $4 billion will be allocated to establish the manufacturing components and necessary equipment for operating the plants, including stacks and balance of plant (BoP) in the production cycle. This phase is crucial, as its readiness will also facilitate subsequent phases and allow for some degree of expansion,” the person elaborated.

“There will be 4-5 different stages. The plan is to quickly develop ½ mtpa in the next 2-3 years and take it up from there to 1 mtpa. During this phase, the full chain for a 5GW electrolyzer manufacturing capacity planned may need an investment of $4.5 – 5 billion,” the person was quoted as saying by Live Mint.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular