Adani forms JV with Kowa Group
For sale of green hydrogen in Japan, Taiwan and Hawaii markets
New Delhi: Adani Group on Thursday said it has formed a 50:50 joint venture with Japanese conglomerate Kowa Group for sale of green hydrogen in Japan, Taiwan and Hawaii markets.
Billionaire Gautam Adani-led conglomerate is investing up to $50 billion over the next 10 years in setting up a fully integrated green hydrogen ecosystem in India. This includes the production of 1 million tonne of green hydrogen in the initial phase which will be ramped up to 3 million tonne later. “Adani Global Pte Ltd, Singapore, a step-down wholly owned subsidiary of Adani Enterprises Ltd, announced a 50:50 joint venture (JV) with Kowa Holdings Asia Pte Ltd, Singapore for sales and marketing of green ammonia, green hydrogen and its derivatives. The JV will concentrate on marketing of products in Japan, Taiwan and Hawaii,” the group said in a statement. Hydrogen is a clean energy source.
It is mainly used in the refining and chemical sectors and produced using fossil fuels such as coal and natural gas. Green hydrogen is produced by using electricity from renewable sources such as solar, to power an electrolyzer that splits the hydrogen from water molecules. Adani already is the largest renewable energy producer and for the green hydrogen project, it plans to expand its solar module manufacturing capabilities at Mundra SEZ in Gujarat to up to 10 GW per annum.
The Mundra factory would manufacture metallurgical grade (mg) silicon, polysilicon, ingots, wafers, cells and the module itself that are used to generate electricity from solar energy. Sea water will be desalinated before using its electrolyzers to produce low-cost green hydrogen. “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,” the statement said.
