Adani opens Hydrogen gambit in Fuel cell pact with Ballard Power

The Gautam Adani-led Adani Group, which has announced a massive plan to stay on top of the renewable energy space in India and even the world, has just announced its first big move into the green hydrogen space. The firm has announced the signing of a non-binding pact with Nasdaq-listed Ballard Power Systems to evaluate a joint venture for investment in commercial production of hydrogen fuel cells for various mobility and industrial applications in India.

As per the memorandum of understanding (MOU), signed by its newly minted firm Adani New Industries Limited (ANIL) that is supposed to lead its manufacturing plans in clean energy, both the firms will examine various options to cooperate, including potential collaboration for fuel cell manufacturing in India. The focus for players in India is completely on make in India here, as the country looks at green hydrogen as its opportunity to become a significant energy exporter, instead of the massive energy importer it currently is.

“Our ability to build a world-class green hydrogen value chain will be critical in facilitating the energy transition and we are excited to partner with Ballard, a global leader in fuel cell technology, to create a shared fuel cell ecosystem in India. We will be deploying innovative use cases across our businesses with fuel cell trucks, mining equipment, marine vessels, off-road vehicles, and critical industrial power,” said Vneet S Jaain, Director, ANIL.

The move by ANIL comes barely a week after the Ministry of Power announced phase 1 of India’s green hydrogen policy under the National Hydrogen Mission. The policy has focused on creating an enabling environment for green hydrogen production for now, with possible mandates for industries to include it in their energy mix to follow in the next phase possibly, probably in 2023-24.

With the Reliance Group already picking up a stake in Stiesdal, which is seeking to manufacture high output electrolysers, the race is truly on between two of India’s largest private conglomerates for the green hydrogen crown.