Adani, Ballard Power to jointly invest in hydrogen fuel cell manufacturing
Adani Group said in a statement that both parties will evaluate various options for cooperation, including possible collaboration for fuel cell manufacturing in India.
The Adani Group and Ballard Power Systems have teamed up to evaluate a joint investment in hydrogen fuel cells manufacturing in India.
For the decarbonization of energy, industry, and mobility, hydrogen is increasingly considered a critical medium. Adani intends to become one of the world’s largest producers of green hydrogen through accelerated investment in renewable energy.
Adani Group said in a statement that under the MoU both parties will evaluate various options for cooperation, including possible collaboration for fuel cell manufacturing in India.
According to the MoU, Adani New Industries Limited (ANIL), a newly formed subsidiary of Adani Enterprises, will focus its efforts on the generation of green hydrogen, as well as the production of green electricity, electrolyzers, and wind turbines, among other things, the statement added.
ANIL’s Director, Vneet S Jaain, stated that fuel cells would be a game-changer in India’s energy transition.
“Our ability to build a world-class green hydrogen value chain will be a critical part of facilitating the energy transition, and we are pleased to partner with Ballard, a global leader in fuel cell technology, to establish a shared fuel cell ecosystem in India,” he added.
In addition, Jaain noted that, “We will deploy innovative use cases across our businesses including fuel cell trucks, mining equipment, marine vessels, off-road vehicles, and critical industrial power.”
‘Gautam Adani’s inspiring leadership and the group’s highly complementary assets make us excited to partner with them,’ said Randy MacEwen, Ballard’s President & CEO.
A new growth opportunity awaits Ballard in India, our company is excited about partnering with the Adani group to accelerate its energy transition and decarbonization goals in India, MacEwen added.
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