Gautam Adani, Chairman, Adani Group, emphasized on the pivotal role of green hydrogen in achieving global carbon neutrality, stating that its production cost must decrease to $1 per kg to facilitate widespread adoption.
Currently, the production cost fluctuates between $3 and $5 per kg. Adani New Industries (ANIL), a subsidiary of the group, is actively working on solutions to generate cost-effective green hydrogen and its related derivatives.
The inaugural phase of ANIL’s ambitious project, targeting the production of one million metric tons per annum (MMTPA) of green hydrogen, is underway in Gujarat and is anticipated to commence production by the fiscal year 2027. As reported by FINANCIAL EXPRESS, ANIL envisions scaling up its capacity to three MMTPA over the next decade, requiring an investment of approximately $50 billion.
Adani commented, “Companies with backward integration are the only ones who will be able to provide the world with affordable green molecules. 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”.
