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Adani Group is Planning to Raise $2.6 Billion for Green Hydrogen and Infrastructure Projects

Last Updated on 19th February 2024

The Adani Group is currently engaged in discussions with prominent sovereign funds based in the Middle East to secure USD 2.6 billion for infrastructure and green hydrogen projects. According to a report from Business Standard, the Adani Group has conducted multiple road shows in London, Dubai, and Singapore to engage potential investors.

 

Adani Group is Planning to Raise $2.6 Billion for Green Hydrogen and Infrastructure Projects

 

The Adani Group's expansion into green hydrogen and airport infrastructure has attracted significant interest from potential investors. Agencies like Moody's, S&P, and Fitch have given positive ratings to the group's creditworthiness and future growth prospects. Notably, the group has already secured investments from key players such as GQG Partners, Qatar Investment Authority, and TotalEnergies, underscoring confidence in its ambitious plans.

 

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With aspirations to become a leading player in the global green hydrogen market, the Adani Group aims to capitalize on the sector's immense potential for clean energy generation and transportation. The funds raised will be channeled toward constructing green hydrogen production facilities and developing hydrogen refueling infrastructure. These initiatives align closely with the Indian government's goals for green hydrogen, as outlined in its National Hydrogen Mission.

 

Having already made substantial investments in renewable energy, the Adani Group is striving to achieve 25 gigawatts of renewable power generation capacity by 2025. The incorporation of green hydrogen into its portfolio will further cement its position as a leader in the clean energy transition. Moreover, the Adani Group plans to invest USD 24 billion in various renewable projects in Gujarat, demonstrating its commitment to sustainable development and renewable energy initiatives.

 

What are sovereign wealth funds?
Sovereign wealth funds are government-owned investment funds that manage the wealth of a nation. These funds can originate from countries' surplus revenues, such as oil exports, or foreign exchange reserves. Their investment strategies and motivations vary.

 

Read: Adani Green Starts Operations of the World's Largest Renewable Energy Park at Khavda, Gujarat

 

Green Hydrogen Initatives of Adani Group

The Adani Group has emerged as a major player in India's green hydrogen push, aiming to become the country's leading producer and exporter of this clean fuel. They have set an ambitious target of producing 1 million metric tons of green hydrogen per year by 2030, with a vision to reach 3 million metric tons by 2035. Some of the green hydrogen projects executed by Adani Group include:

 

 

Read: Adani to Establish $1.2 Billion Copper Refinery in Gujarat

 

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