Adani Enterprises arm forms JV with Kowa for marketing of green hydrogen

Adani Enterprises’ step-down wholly owned subsidiary – Adani Global, Singapore has formed a 50:50 joint venture (JV) with Kowa Holdings Asia, Singapore for sales and marketing of green ammonia, green hydrogen, and its derivatives. The JV will concentrate on marketing 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.

Adani-Kowa joint venture formed for sales and marketing of green hydrogen and its derivatives, to be manufactured in India under Adani New Industries. Adani New Industries (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 Adani New Industries 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 Enterprises is the flagship company of Adani Group, one of India’s largest business organisations. The company has business interests in various economic areas such as mining, integrated resources management (IRM), infrastructure such as airports, roads, rail/ metro, water, data centres, solar manufacturing, agro and defence.

On Thursday, the stock opened at Rs 2548.95 and touched a high and low of Rs 2548.95 and Rs 2506.10 respectively. The BSE group ‘A’ stock of face value of Rs 1 has touched a 52-week high and low of Rs 4189.55 and Rs 1017.10, respectively.

Last one week high and low of the scrip stood at Rs 2630 and Rs 2496, respectively. The current market cap of the company is Rs 289503.28 crore. The promoters holding in the company stood at 67.65%, while Institutions and Non-Institutions held 24.80% and 7.55%, respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.