Adani Enterprises on Thursday shared further details on its planned green hydrogen business. The company plans to export production to markets such as Japan, Taiwan and Hawaii, through its recently formed joint venture with Kowa Group.
On Thursday, Adani Enterprises said it has formed a joint venture company named Kowa Green Fuel Pte Ltd, which is a 50:50 joint venture with Kowa Group, for sales and marketing of green ammonia, green hydrogen and its derivatives in Japan, Hawaii and Taiwan.
Further, the company said Adani Group plans to start production of green hydrogen from FY27. "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 Gujarat. The initial phase is expected to start production by FY27," the company said in its statement.
Post which, the company will consider increasing capacity up to 3 million metric tonnes per annum (MTPA) in the next ten years, depending on market conditions, the statement said. The planned investment figure for the entire green hydrogen system remains at 50 billion US dollars.
In its Thursday statement, the company said, "ANIL is well positioned to realise its targets and provide green molecules and sustainable fuels at globally competitive cost. Mundra port's proximity to global supply chain enables export opportunity of green hydrogen and derivatives, especially considering availability of jetty for shipment of cryogenic products." ANIL is Adani New Industries Ltd, which is Adani Enterprises' wholly-owned subsidiary implementing the green hydrogen business plans.
In 2022, Adani Enterprises had announced plans for a joint venture with TotalEnergies to develop different aspects of its green hydrogen business. The proposed joint venture, however, hit a hurdle with the release of the Hindenburg report in January this year. There is no official word on the status of this earlier proposed green hydrogen joint venture with TotalEnergies so far.