Team Blitz India
NEW DELHI: Billionaire Adani Group is seeking to raise as much as $4 billion to help develop manufacturing plants that would produce low-cost green hydrogen according to people familiar with the matter.
Adani New Industries Ltd., a wholly owned subsidiary of flagship company Adani Enterprises Ltd, will take the lead raising the money from domestic and international banks and is in early-stage talks with several lenders, the people said, asking not to be identified because the details are private.
Tycoons like Adani and his rival Mukesh Ambani are betting on green hydrogen as Prime Minister Narendra Modi seeks to establish India’s leadership in the transition toward cleaner technology.
