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The Adani Group and Italy’s Snam will collaborate on exploring the hydrogen value chain in India and global markets, as well as the development of biogas, biomethane and low-carbon mobility.
As part of the strategic partnership, Adani Group and Snam intend to explore several opportunities in the energy space, where each Group brings complementary capabilities to the table. Both Adani Group and Snam have a strong interest in exploring the potential of green hydrogen. While Snam has been a strong proponent of hydrogen adoption in Europe, green hydrogen is a natural extension to the Adani Group’s ambitious renewable portfolio, Adani Group said in a statement.
A non-binding agreement has been signed between Snam and Adani Gas Limited to create a joint venture for setting up a CNG compressors manufacturing facility in India. This would help in promoting the development of refuelling infrastructure for sustainable mobility and fostering the use of natural gas.
“In line with India’s target of 450 GW of renewable energy by 2030, the Adani Group has embarked on one of the world’s most ambitious carbon offset programs. Given the commitment of our government to sustainability and the sheer scale of need, India will be one of the most attractive transition markets for low carbon electricity technologies. We intend to play an essential role in this energy mix transition. Our recent ranking as the world’s largest solar power company is a validation of our intent and we will continue to diversify our energy portfolio,” Adani Group Chairman, Gautam Adani, said.
“India will have a key role in reaching the global climate goals, and Snam aims to contribute to this process with its know-how and its realization capacity. The partnership with a significant group like Adani, undertaken at both an Indian and global level, goes in this direction: together we want to develop joint-projects in the energy transition, from biomethane to hydrogen, to enable the decarbonization of India and other countries, and create new development opportunities”, Snam CEO Marco Alverà said.
The combination of Adani’s ability to provide the largest national energy platform and Snam’s broad technology expertise can be pivotal in helping India accelerate its sustainability journey, the statement added.
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