TotalEnergies, a global multi-energy company, agreed to acquire of a 25% stake in Adani New Industries, an exclusive platform of AEL and TotalEnergies for the production and commercialization of green hydrogen in India, from Adani Enterprises, an incubator focusing on establishing diverse new businesses. Financial terms were not disclosed. “TotalEnergies’ entry into ANIL is a major milestone in implementing our low carbon hydrogen strategy, where we want not only to decarbonize the hydrogen used in our European refineries by 2030, but also to pioneer the mass production of green hydrogen to meet demand, as the market will take off by the end of this decade. We are also very pleased with this agreement, which further strengthens our alliance with the Adani Group in India and contributes to the valorization of India’s abundant low-cost renewable power potential. This future production capacity of 1 Mtpa of green hydrogen will be a major step in increasing TotalEnergies’ share of new decarbonized molecules – including biofuels, biogas, hydrogen, and e-fuels – to 25% of its energy production and sales by 2050,” Patrick Pouyanné, TotalEnergies Chairman and CEO.