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Business segment performance review

Adani New Industries Limited

Green Hydrogen Manufacturing Ecosystem

Adani New Industries Limited (ANIL), a wholly-owned subsidiary of Adani Enterprises Limited, is dedicated to developing large-scale production facilities for Green Hydrogen and its derivatives through an integrated end-to-end value ecosystem. ANIL focusses on the production of Green Hydrogen and its derivative products, including Green Ammonia, Green Methanol, Sustainable Aviation Fuel and manufacturing of Solar Cells & Modules, Wind Turbine Generators and Electrolysers, to meet the growing demand across diverse sectors in India and International markets.

Vision

ANIL aims to position itself as a global player for reliable, scalable, and cost-effective production and supply of Green Hydrogen and its derivatives to end-users in domestic as well as global markets.

We are developing one of the world’s largest Green Hydrogen ecosystems which will surely accelerate and contribute to global efforts for energy transition.

- MR RAJAT SEKSARIA, CEO

The upcoming Green Hydrogen Hub at Mundra, Gujarat, with a capacity of 2.1 MMTPA of Green Hydrogen (or equivalent derivatives) will be a pivotal in our journey towards sustainability. The rollout of Green Hydrogen its derivative projects will be aligned with market evolution and regulatory developments for such projects.

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Segment Overview

Introduction

Green Hydrogen is emerging as a crucial element in the global shift towards a sustainable energy sources. With the urgent need to reduce carbon emissions, demand for Green Hydrogen is increasing rapidly, supported by the growing adoption of renewable energy technologies. India, the world’s third-largest consumer of energy, is at the forefront of this energy transition. The National Green Hydrogen Mission (NGHM), launched by the Government of India in January 2023, aims to position the country as a leader in Green Hydrogen technology and markets. With a production target of 5 MMTPA by 2030, this initiative is expected to significantly reduce import dependency, decarbonise energy-intensive industries, and drive large-scale investments in Green Hydrogen and its downstream sectors. ANIL aims to complement the government’s efforts by developing large-scale, integrated facilities to produce and commercialise Green Hydrogen and its derivatives. Additionally, ANIL intends to position itself as a key global exporter of these products.

Product/Service Offerings

ANIL's foray into the Green Hydrogen industry is a pivotal step towards its commitment to sustainability and renewable energy, aiming to become a global leader in this emerging sector. ANIL’s core offerings include:

  • Green Hydrogen: Utilising renewable energy sources, such as solar and wind, to generate green hydrogen through electrolysis technology. Green hydrogen will be a promising clean energy alternative that can play a significant role in decarbonising various sectors and mitigating climate change.
  • Green Hydrogen Derivatives: Developing derivatives, including Green Ammonia and e-Methanol, for a broad spectrum of industrial applications. These derivatives offer cleaner alternatives for hard-to-abate sectors such as chemicals, steel and international shipping. Additional derivatives, such as sustainable aviation fuel (SAF), are also progressing through various stages of strategic planning and development.
Business Opportunities

Green Hydrogen presents significant business diversification opportunities as industries transition from green electrons (renewable energy) to green molecules. Green Hydrogen will be crucial for decarbonising hard-to-abate sectors and supporting sustainability targets of different nations. As a pivotal solution in the shift towards a low-carbon economy, Green Hydrogen is central to global efforts to achieve net-zero emissions.

  • Expansion of Renewable Energy Projects: Developing giga-scale solar and wind energy projects to support large-scale hydrogen production
  • Global Supply Chain Integration: Establishing a Green Hydrogen and derivatives hub at Mundra, Gujarat, to integrate into the global green energy supply chain ecosystem
  • Technological Advancements: Investing in advanced technologies such as e-Methanol, SAF, etc. to drive growth in the new-age green energy solutions
Business Edge
  • Comprehensive Ecosystem: By manufacturing key components such as solar modules, wind turbines, and electrolysers in-house, ANIL ensures end-to-end supply chain control, optimising efficiency and cost competitiveness
  • Leveraging Synergies: The expertise of Adani portfolio companies in infrastructure development projects like long-distance power transmission, ports & logistics combined with its proven capabilities of executing giga-scale renewable energy projects, positions ANIL as a unique player in the emerging global Green Hydrogen sector
  • Global Integration: The establishment of a Green Hydrogen hub at Mundra, Gujarat, facilitates integration into the global supply chain, enhancing market reach and competitiveness

Business Performance

  • ANIL is developing a comprehensive electrolyser manufacturing ecosystem, featuring state-of-the-art facilities for manufacturing, testing, and R&D with high level of localisation in its supply chain. The facility, located in Mundra, Gujarat, aims to produce 5 GW of electrolysers annually along with critical components. The advanced R&D centre will focus on value engineering. With a backward-integrated approach, ANIL gains full control over product quality and cost optimisation, enabling the delivery of high-performance electrolysers at competitive costing
  • With its expertise in solar and wind turbine manufacturing, the Adani Portfolio is well-positioned to catalyse the Green Hydrogen ecosystem, ensuring supply chain security and seamless integration for ANIL’s hydrogen business
  • Electrolyser business has been awarded 300 MW annual manufacturing capacity under the SECI Production-Linked Incentive (PLI) Scheme
  • ANIL has successfully tested prototype for alkaline and Anion Exchange Membrane (AEM) electrolyser. Our strong design team has designed and developed a 5 MW electrolyser system with RE-integrated and O&M friendly features. We are confident of developing 20 MW electrolyser system by mid next year which can be deployed at a Giga-watt scale

Outlook

ANIL is advancing its technology development initiatives by collaborating with two technology partners to test and develop electrolyser stacks. Additionally, its advanced electrolyser testing laboratory is fully operational. As part of its long-term vision, the Company is focussed on developing Alkaline Electrolyser and AEM technologies, ensuring high efficiency, scalability, and cost-effectiveness in Green Hydrogen production.