The Adani Group will evaluate options to manufacture hydrogen fuel cells in India with Canadian firm Ballard Power Systems Inc. as it looks to boost its clean energy footprint.
Adani signed a non-binding memorandum with Ballard, which will see both parties examine various options to cooperate, including a potential collaboration of fuel cell manufacturing, according to a press release. "Adani aims to be one of the largest green hydrogen producers in the world through accelerated investment in renewable energy," the press note said.
The efforts will be led by a newly formed subsidiary, Adani New Industries Ltd., that will focus on the generation of green hydrogen, including manufacturing electrolysers and wind turbines. The Adani Group termed green hydrogen to be a "game changer" in India's energy transition.
The announcement comes days after the Indian government unveiled a road map to accelerate the country's shift away from fossil fuels. The first phase of the plan includes free transmission of renewable energy across states for producers of green hydrogen. The Adani Group has already pledged investing between $50-70 billion in renewable energy, including in green hydrogen.
Ballard Power Systems specialises in the manufacturing of proton exchange membrane fuel cell products that are used for heavy-duty commercial transportation, such as buses, trucks, trams and trains. Earlier this month, they delivered fuel cell modules in Norway that would power the world's first ferry running on liquid hydrogen.
"Green hydrogen is the fuel of the future and fuel cells will be a game-changer in India's energy transition," said Vneet S Jaain, director of Adani New Industries.
"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. We will shape the industry through this strategic collaboration.”
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