Wed, 04 Oct 2023

Ahmedabad (Gujarat) [India], September 14 (ANI): Adani Global Pte Ltd, Singapore, a step-down wholly owned subsidiary of Adani Enterprises Ltd, on Thursday announced a 50:50 joint venture (JV) with Kowa Holdings Asia Pte Ltd, Singapore for sales and marketing of green ammonia, green hydrogen and its derivatives.

The JV will concentrate"on marketing of products in Japan, Taiwan and Hawaii".

"The JV with Kowa for green hydrogen marketing is a natural and strategic extension of Adani Group's long-standing marketing and trading relationship with Kowa. Adani New Industries Limited (ANIL), the green hydrogen platform of Adani Group is developing end-to-end solutions to produce globallycompetitive green hydrogen and its associated sustainable derivatives at scale," an Adani group press release said.

It said the first project of Adani New Industries Limited (ANIL) of 1 million metric tonnes per annum (MMTPA) green hydrogen is being implemented in phases in GujaratThe initial phase is expected to start production by FY2027. Depending on market conditions, ANIL aims to increase capacity to up to 3 MMTPA of green hydrogen in the next 10 years, with an investment of about USD 50 billion.

"ANIL's strategy is focused on development of an integrated hydrogen ecosystem with three business streams: - Manufacturing of supply chain products (i.e. solar- polysilicon, ingot, wafer, cell and module, wind turbine generator, electrolyzers and ancillary items) - Green hydrogen generation;and production of downstream derivative products (i.e. green ammonia, green methanol, sustainable aviation fuel and others)," the release said.

"The combined strength of Adani Group's experience in renewable equipment manufacturing, setting up large-scale generation projects, building grid infrastructure, and proven project execution capabilities gives it a significant competitive advantage while building the green hydrogen ecosystem inIndia," it added. The release said ANIL is well positioned to realise its targets and provide green molecules and sustainable fuels at a globally competitive cost.

"Mundra ports' proximity to global supply chain enables export opportunity of green hydrogen and derivatives, especially considering availability of jetty for shipment of cryogenic products," it said.

ANIL is building one of India's most comprehensive and state-of-the-art renewable energy manufacturing ecosystem across wind, solar, electrolyzer and allied equipment at Mundra, Gujarat, the release said.

Adani Enterprises Limited (AEL) is the flagship company of Adani Group, one of India's largest business organisations (ANI)

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