New Delhi, Sept 14 (UNI): The Adani group on Thursday announced an equal partnership joint venture (JV) with Kowa Holdings Asia Pte Ltd for sales and marketing of green ammonia, green hydrogen and its derivatives.
The 50:50 JV will concentrate on marketing of products in Japan, Taiwan and Hawaii.
“The JV with Kowa for green hydrogen marketing is a natural and strategic extension of Adani Group’s long-standing marketing and trading relationship with Kowa,” billionaire Gautam Adani-led conglomerate said in a media release.
Adani New Industries Ltd (ANIL), the green hydrogen platform of Adani Group is developing end-to-end solutions to produce globally competitive green hydrogen and its associated sustainable derivatives at scale. 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,” Adani group said.