Adani Enterprises Ltd‘s fully owned subsidiary, Adani New Industries Ltd, has secured an order from Solar Energy Corp to establish a manufacturing capacity dedicated to electrolysers, a pivotal component within the framework of the National Green Hydrogen Mission. This development reflects Adani’s vision to advancing sustainable energy solutions, as the subsidiary prepares to contribute to the goals set by the National Green Hydrogen Mission by facilitating the production of electrolysers essential for green hydrogen generation.
Adani Enterprises Ltd, a flagship entity of the Adani Group, is a diversified conglomerate with a prominent presence across key industries. Established in 1988, the company has evolved into a dynamic force, engaging in businesses spanning infrastructure, power, logistics, and resources. Adani Enterprises is recognized for its strong contributions to sustainability, evident in ventures like green energy initiatives and investments in clean technologies. The company’s strategic vision and operational excellence have propelled it to the forefront of India’s corporate landscape, contributing significantly to the nation’s economic growth.
Adani New Industries Ltd has recently announced that it has been granted the Letter of Award to establish a manufacturing capacity dedicated to electrolyzers, totaling 198.5 megawatts per annum. This significant development falls under the purview of the Strategic Interventions for Green Hydrogen Transition scheme, as disclosed in an official exchange filing.
The establishment of the plant is set to take place as part of the Production-Linked Incentive initiative designed to stimulate the manufacturing of electrolyzers and thereby catalyze the production of green hydrogen. Electrolysers, pivotal in the process of utilizing electricity to separate water into hydrogen and oxygen, stand as a crucial technological cornerstone for generating low-emission hydrogen through the utilization of renewable or nuclear energy sources.
This strategic endeavor aims to propel advancements in sustainable energy practices by fostering the development of innovative solutions in electrolyzer manufacturing, further contributing to the global shift towards a greener and more environmentally friendly hydrogen production landscape.
The company is set to receive a substantial incentive amounting to a maximum of Rs 293.8 crore spread over five years. The establishment of the manufacturing facility is slated to transpire within a timeline of 30 months, as indicated by official statements. Notably, the preceding year saw the initiation of the Production Linked Incentive (PLI) scheme by the Union government, specifically geared towards fostering green hydrogen generation under the National Green Hydrogen Mission (NGHM). The Strategic Investment in Green Hydrogen Technologies (SIGHT) program, dedicated to the manufacturing of electrolyzers, has been endowed with a substantial allocation of Rs 4,440 crore, expected to be realized by the fiscal year 2030.
Under the ambit of the SIGHT initiative, a structured incentive model is delineated, commencing at Rs 4,440 per kilowatt in the inaugural year and gradually tapering down to Rs 1,480 per kilowatt by the culmination of the fifth year. This incentivization framework is strategically designed to stimulate and support the burgeoning field of electrolyzer manufacturing.
This also aligns with the broader national agenda of fostering sustainable and green technologies. The comprehensive plan not only underscores the government’s commitment to promoting eco-friendly initiatives but also positions the company at the forefront of innovation and environmental responsibility within the burgeoning landscape of hydrogen technologies.
Hydrogen, renowned for its status as a clean energy source, finds primary application in the refining and chemical sectors, with its production traditionally reliant on fossil fuels like coal and natural gas. The Adani Group, in alignment with its $100 billion initiative to transition its portfolio companies towards cleaner energy sources, has committed substantial investments to propel the development of green hydrogen.
In the latest market update, shares of Adani Enterprises concluded 0.77% higher at Rs 3,104.25 per share on the BSE, outpacing the benchmark Sensex, which recorded a 1.18% advance. This strategic move by the Adani Group underscores its proactive stance in fostering sustainability and embracing the burgeoning realm of green technologies within its corporate framework.
