Adani Group seeking to raise $4 billion to fund green hydrogen plans – EQ
In Short : Adani Group is actively seeking to raise $4 billion in funding to support its ambitious green hydrogen plans. This significant investment underscores the company’s commitment to advancing clean energy technologies and transitioning towards a sustainable energy future. Green hydrogen is a key component in the global efforts to combat climate change, and Adani Group’s initiative signifies a major step towards the widespread adoption of this environmentally friendly energy source. The substantial funding sought by the company reflects the growing interest and investment in renewable energy solutions, paving the way for a greener and more sustainable energy landscape.
In Detail : Adani Enterprises’ unit which is in early-stage discussions with lenders, will raise the money from domestic & international banks, the report said.
India’s Adani Group is looking to raise as much as $4 billion to fund its green hydrogen plans, Bloomberg News reported on Thursday.
Adani Enterprises’ unit Adani New Industries, which is in early-stage discussions with several lenders, will raise the money from domestic and international banks, the report said, citing people familiar with the matter.
In September, French oil major TotalEnergies said it will invest $300 million to form a joint venture with Adani Green Energy to build renewable capacity in India.
Adani New Industries will conduct the fresh capital raise independent of Total, Bloomberg said.
A 1 million metric ton per annum green hydrogen facility in the western state of Gujarat will be among the first few projects to receive the capital, the report said.
