A quarter of the equity in Adani New Industries Ltd (ANIL),will be bought by a French company TotalEnergies. Adani group did not disclose the value of the deal but talked about ANIL investing $50 billion over 10 years in green hydrogen and in initial phase, building a production capacity of 1 million tonnes a year for green hydrogen before 2030.
ANIL is critical to Adani's ambition of becoming the world's cheapest producer of green hydrogen also the zero-emission fuel that can propel the world's decarbonisation drive but has yet to be produced in a way that makes it commerciably viable
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