The Adani group on Thursday said it has formed a 50:50 joint venture with Japanese conglomerate Kowa Group for sale of green hydrogen in markets such as Japan, Taiwan and Hawaii.
The JV between Adani Global Pte Ltd, Singapore, a step-down wholly-owned subsidiary of Adani Enterprises Ltd, and Kowa Holdings will focus on sales and marketing of green ammonia, green hydrogen, and its derivatives.
This comes as the conglomerate has announced big investment plans of up to $50 billion over the next decade in setting up a fully integrated green hydrogen ecosystem in India. This includes the production of 1 million tonnes of green hydrogen in the initial phase, which will be ramped up to 3 million tonnes.
Hydrogen is a clean energy source. It is mainly used in the refining and chemical sectors and produced using fossil fuels such as coal and natural gas. Green hydrogen is produced by using electricity from renewable sources such as solar, to power an electrolyzer that splits the hydrogen from water molecules.
Gautam Adani is planning to expand its solar module manufacturing capabilities at Mundra SEZ in Gujarat to up to 10 GW per annum. The Mundra factory would manufacture metallurgical grade (mg) silicon, polysilicon, ingots, wafers, cells and the module itself that are used to generate electricity from solar energy.
“The JV with Kowa for green hydrogen marketing is a natural and strategic extension of the Adani group’s long-standing marketing and trading relationship with Kowa,” the group said.
Adani New Industries, the green hydrogen platform, is developing end-to-end solutions to produce globally competitive green hydrogen and its sustainable derivatives at scale.
