Adani Group Aims To Raise 4bn For Green Hydrogen Ventures

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Adani Group aims to raise $4Bn for Green Hydrogen Ventures

ri-calendar-2-lineOct 27, 2023

By: BlinkX Research Team

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The Adani Group, led by billionaire Gautam Adani, is in the process of raising up to $4 billion to fund the establishment of low-cost green hydrogen manufacturing plants. Adani New Industries Ltd., a subsidiary of Adani Enterprises Ltd., is spearheading the fundraising efforts from both domestic and international banks. Early-stage discussions with multiple lenders are underway. 

 

This initiative aligns with Adani’s commitment to invest $20 billion over the next decade in renewable energy, green component manufacturing, and related infrastructure. The conglomerate's focus on green technologies mirrors India's ambition to lead the shift towards cleaner energy sources.

 

Adani’s collaboration with TotalEnergies SE in June outlined a $5 billion investment plan for green hydrogen production and related ventures in India. The goal is to enhance India’s energy self-sufficiency while reducing its dependence on costly energy imports. One of the primary projects slated for funding is a 1 million metric tons per annum green hydrogen facility in Gujarat, with production anticipated to commence in 2027. 

 

Successful financing would signal renewed confidence from lenders following fraud allegations against Adani Group earlier in the year. The conglomerate continues to dispute these claims, with an ongoing regulatory investigation to assess any potential violations of local securities laws.

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