Adani Enterprises, Kowa form JV in Singapore to sell green hydrogen, ammonia, ET EnergyWorld

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MUMBAI: Adani Enterprises has formed an equal joint venture with Japanese firm Kowa Company in Singapore to markgreen ammonia and green hydrogen made by the Indian conglomerate.

Adani Global Pte Ltd, Singapore, a step down wholly owned subsidiary of Adani Enterprises Ltd (AEL), signed a 50:50 joint venture agreement with Kowa Holdings Asia Pte Ltd, Singapore, on Friday, the company said in a regulatory filing to stock exchanges.

“Joint venture agreement records the terms of incorporation of a joint venture company in Singapore in accordance with the terms of the agreement for the sales and marketing of green ammonia, green hydrogen and its derivatives produced and supplied by Adani Group, in the agreed territory,” it said.

Adani New Industries Ltd (ANIL), a subsidiary of Adani Enterprises, plans to manufacture green hydrogen and its downstream products such as ammonia, urea, methanol, and ethanol at its Khavda and Mundra SEZ facilities in Gujarat.

The Khavda site has a land bank of 71,000 acres, which has a large-scale renewable deployment potential of 20 GW due to its high wind and solar resource potential.

The company plans to use the alkaline and PEM electrolysis process to produce 2.5 million tonnes of green H2 annually (by FY31) at Khavda.

The company, through its renewable energy play, is confident of low cost of energy extraction, which will help it produce hydrogen at 30 cents per kg operating costs, company officials had told ET this January.

H2 will be supplied from Khavda to Mundra SEZ through a 42-inch pipeline (a cost-effective way of transportation), where it will be used for the production of downstream products.

AEL’s scrip closed at Rs 2520.20, up 0.47% on the BSE on Friday. Benchmark Sensex closed 0.50% higher.

  • Published On Sep 9, 2023 at 08:05 AM IST

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