Adani to form JV with Japan’s Kowa for Overseas Green Hydrogen Business
Adani Global Pte. Ltd., a step-down wholly owned subsidiary of Adani Enterprises Ltd., is developing a Joint Venture (JV) with Japan’s Kowa Holdings Asia Pte. Ltd. Adani Enterprises stated in a press release dated 14th September 2023 that the JV will focus on sales and marketing of green ammonia, green hydrogen and its derivatives in Japanese, Hawaiian and Taiwanese markets. These components will be produced in India under Adani New Industries Limited (ANIL).
Adani Global and Kowa Holdings Asia will have an equal stake in this upcoming JV. Adani New Industries will be developing a green hydrogen project of capacity 1 Million Metric Tonnes Per Annum (MMTPA) in Gujarat. The first phase of this project will commence operations by FY27.
Adani New Industries’ target is to increase the capacity of green hydrogen to 3 MMTPA over the coming 10 years, which requires an investment of 50 billion dollars (approximately Rs. 4,10,000 crore).
