Mr. Gautam Adani, Chairman, Adani Group, in his WEF 2024 blog:
- Highlights significance of Green Hydrogen as an alternative to fossil fuels
- Discusses the importance of broader adoption of Green Hydrogen, calling for decreased production costs and optimising through vertical integration to do so
- Talks about reduction in cost of production from $3-5/kg towards $1/kg and
- Adoption of Green Hydrogen to achieve energy security
- The complete blog is available at [Link]
Ahmedabad, 16 January 2024: Mr. Gautam Adani, Chairman, Adani Group has emphasised the importance of Green Hydrogen in achieving net zero emissions for countries like India in his blog [Link] for the 54th Annual Meeting of the World Economic Forum (WEF). Titled “Reducing costs: The key to leveraging green hydrogen on the road to net zero”, Mr. Adani reflects on the viability and potential of Green Hydrogen as a key alternative to fossil fuel as the world seeks to transition towards a clean and renewable future.
The blog, published on the WEF website, notes the benefits of Green Hydrogen for the environment as well as development of India. It highlights the viability of Green Hydrogen as a clean fuel with zero-emissions. Green Hydrogen will hold the key to realise the dream of carbon neutrality across the world. Hydrogen has been known as a potential energy storage medium and can produce electricity in fuel cells with water as the only waste product.
Hence, to fully realise its potential, the blog draws emphasis on the importance of its broader adoption to decrease the cost of production, various policy support measures, and adopting the approach of vertical integration by encompassing the entire supply chain to make Green Hydrogen affordable. Companies with backward integration are the only ones who will be able to provide the world with affordable green molecules. The cost of production of Green Hydrogen must decline from the current $3-5 per kilogram (kg) towards $ 1/kg for widespread adoption.
Highlighting Green Hydrogen as an equitable solution, Mr Adani notes, “For India, the equitable solution is not to replace one fossil fuel with another but to leapfrog to renewables and green hydrogen. The decrease in solar costs can be replicated with green hydrogen. This shift will help India achieve energy security and improve air quality in its cities. It will also contribute to food security by eliminating the uncertainties of imported ammonia prices, a crucial component in fertilizers. Most importantly, it will offer the world a chance to avert the adverse impacts of climate change.”
The blog reflects on and provides a roadmap for leaders, policymakers, and industry stakeholders to navigate the challenges and opportunities presented by the evolving energy paradigm. It is available [Link] for readers eager to gain a deeper understanding of the role green hydrogen can play in shaping the energy landscape of tomorrow.
Adani in Green Hydrogen in a nutshell:
Adani New Industries Limited (ANIL) from Adani Enterprises Limited (AEL) is developing end-to-end solutions to produce globally competitive green hydrogen and its associated sustainable derivatives. The first project of ANIL of 1 million metric tonnes per annum (MMTPA) green hydrogen is being implemented in phases in Gujarat. The initial phase is expected to start production by FY2027. Depending on market conditions, ANIL aims to increase capacity to up to 3 MMTPA of green hydrogen in the next 10 years, with an investment of about USD 50 billion.
About The Adani Portfolio of Companies
Headquartered in Ahmedabad, the Adani Portfolio is the largest and fastest-growing portfolio of diversified businesses in India with interests in Logistics (seaports, airports, logistics, shipping and rail), Resources, Power Generation and Distribution, Renewable Energy, Gas and Infrastructure, Agro (commodities, edible oil, food products, cold storage and grain silos), Real Estate, Public Transport Infrastructure, Consumer Finance and Defence, and other sectors. Adani owes its success and leadership position to its core philosophy of ‘Nation Building’ and ‘Growth with Goodness’ – a guiding principle for sustainable growth. The Group is committed to protecting the environment and improving communities through its CSR programmes based on the principles of sustainability, diversity and shared values.
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