Renewable

January 10 (Renewables Now) - Indian coal miner Adani Enterprises Ltd (BOM:512599) has set up a new subsidiary devoted to the production of green hydrogen and equipment for solar and wind power generation, among others.

More specifically, Adani New Industries Limited (ANIL) will produce low-carbon electricity and manufacture major components and materials needed for such projects, while also producing green hydrogen. Additionally, the new entity will make wind turbines, solar modules, batteries, electrolysers and other products for the upstream sector and ancillary industries, the Adani Group company said in a bourse filing.

The newly-established company will also be tasked with the development and operation of projects for low-carbon fuels and chemical synthesis.

While specific details about the projects to be undertaken by ANIL were not available, Adani Enterprises said that business operations of the new company are set to be launched in due course.

In November, Adani Group committed to spending USD 70 billion (EUR 61.8bn) in order to become the world’s largest renewable energy company by 2030 and also announced plans to produce the cheapest hydrogen globally. The conglomerate’s green arm Adani Green Energy Ltd (AGEL), meanwhile, aims to have 45 GW renewable energy generation capacity by 2030.

(USD 1.0 = EUR 0.883)

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