Indian Economy News

French energy giant TotalEnergies to invest $12.5 bn in Adani Group's new firm

  • IBEF
  • June 15, 2022

French multi-energy major TotalEnergies is expected to invest at least US$ 12.5 billion for a 25% stake in a new clean energy services company Adani New Industries Ltd. Adani New Industries will be developed in collaboration with TotalEnergies by billionaire Mr. Gautam Adani's promoted Adani Enterprises Ltd.

The company plans to invest over US$ 50 billion in green hydrogen and its ecosystem over the next ten years.

The new partnership, centred on green hydrogen, will likely transform India's and the world's energy landscapes. Adani and TotalEnergies are both pioneers in energy transition and clean energy adoption, and this collaborative energy platform further strengthens the public ESG commitments made by both companies.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.