The Adani Group has announced that it has signed a non-binding Memorandum of Understanding (“MoU”) with Ballard Power Systems to evaluate a joint investment case for the commercialisation of hydrogen fuel cells in various mobility and industrial applications in India.
Under the MoU, both parties will examine various options to cooperate, including potential collaboration for fuel cell manufacturing in India.
Hydrogen is increasingly viewed as a critical medium for the decarbonisation of energy, industry, and mobility. Adani aims to be one of the largest green hydrogen producers in the world through accelerated investment in renewable energy.
Efforts under this MoU will be anchored by Adani New Industries Limited (ANIL), the newly formed subsidiary of Adani Enterprises, focused on the generation of green hydrogen, including downstream products, green electricity generation, manufacture of electrolyzers and wind turbines, among others, the company said.
“Green hydrogen is the fuel of the future and fuel cells will be a game-changer in India’s energy transition. Our ability to build a world-class green hydrogen value chain will be critical in facilitating the energy transition and we are excited to partner with Ballard, a global leader in fuel cell technology, to create a shared fuel cell ecosystem in India. We will be deploying innovative use cases across our businesses with fuel cell trucks, mining equipment, marine vessels, off-road vehicles, and critical industrial power. We will shape the industry through this strategic collaboration,” said Vneet S Jaain, Director, Adani New Industries Limited (ANIL).
“We are excited to partner with Adani given Gautam Adani’s inspiring leadership and the highly complementary assets across the group portfolio. India represents a new growth opportunity for Ballard, and we look forward to working with the Adani group to support and accelerate their energy transition and decarbonisation goals,” said Randy MacEwen, Ballard’s President & CEO.
In the month of January Reliance Industries Limited (RIL) had signed an MoU with the Government of Gujarat for a total investment of Rs 5.955 lakh crore as part of the Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects will create 10 lakh direct/indirect employment opportunities in the State.
RIL proposes to invest Rs 5 lakh crore in the State over the span of 10 to 15 years to set up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development. RIL will develop an eco-system for assisting Small and Medium Enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of Renewable Energy and Green Hydrogen, the company said.
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