Team Blitz India
NEW DELHI: The Adani Group, led by billionaire Gautam Adani, is reportedly planning to raise up to $4 billion to support the setting up of manufacturing facilities for low-cost green hydrogen.
Adani New Industries Ltd., a subsidiary of Adani Enterprises Ltd., is in the initial stages of discussions with multiple domestic and international banks to raise funds, Economic Times reported citing people familiar with the matter.
In June, France’s Total Energies SE and Adani announced their intention to invest $5 billion in India to produce green hydrogen and related products.
This investment comes as India, the world’s third-largest polluting nation, aims to decarbonise.
Gautam Adani, the head of Adani Group, has earlier stated that 75 per cent of the group’s projected capital expenditure will be allocated to green businesses.
Additionally, his companies plan to invest $20 billion over the next ten years in renewables, green component manufacturing, and associated infrastructure.
