Group said that it has signed a non-binding Memorandum of Understanding
with Nasdaq-listed Ballard Power Systems.
will evaluate making joint investment for 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 decarbonization 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.
under this MoU will be anchored by Adani New Industries Limited (ANIL), the
newly formed subsidiary of Adani Enterprises, focused on generation of green
hydrogen, including downstream products, green electricity generation,
manufacture of electrolysers and wind turbines, among others.
S Jaain, director, Adani New Industries Limited (ANIL), said that, green
hydrogen is the fuel of the future and fuel cells will be a game-changer in
India’s energy transition. They will be deploying innovative use cases across
their businesses with fuel cell trucks, mining equipment, marine vessels,
off-road vehicles, and critical industrial power. They would shape the industry
through this strategic collaboration.
Randy MacEwen, CEO and
president, Ballard, said that, India represents a new growth opportunity for
Ballard, and they look forward to working with the Adani group to support and
accelerate their energy transition and decarbonisation goals.
Adani Group has a current market capitalisation of $151 billion,
comprising seven publicly listed companies with businesses spanning power
generation and distribution, renewable energy, gas and infrastructure,
logistics (seaport, airports, shipping, and rail), mining and resources, and