BP confirmed today that it picked up over 40% stake in the Asian Renewable Energy Hub project to produce and export green hydrogen in Australia. In addition, TotalEnergies and Adani announced yesterday an investment of $5 billion into the development of hydrogen and derivatives business in India.
French energy major TotalEnergies and Indian billionaire Gautam Adani’s conglomerate are partnering to fund billions of dollars worth of green hydrogen development in India as the world’s third-largest polluter seeks to decarbonise.
Majors, such as BP, Total and Shell, as well as Asian national oil companies (NOCs), are stepping up their investments in India’s rapidly expanding gas and renewables markets.
Energy giant total has signed an agreement with Adani Group to develop various regasification projects in India, along with a network of 1,500 retail service stations.
