Adani, Kowa form green H2 marketing JV in Singapore

Adani Enterprises Ltd (BOM:512599), part of Indian conglomerate Adani Group, has joined forces with a unit of Japanese trading firm Kowa Co (TYO:7807) to operate on the green hydrogen market in Singapore.

The partners will form a joint venture (JV) to market and sell green hydrogen and ammonia produced by the Indian conglomerate, Adani Enterprises said in a bourse filing on Friday.

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The new entity will be equally owned by Adani Global Pte Ltd Singapore and Kowa Holdings Asia Pte Ltd Singapore. The terms of the deal and specific details about the new business were not given in the statement.

Adani Group has been working to expand its renewable energy generation capacity and committed to investing more than USD 50 billion in 10 years in the production of green hydrogen. Last summer, it announced plans to install a 2-GW electrolyser powered by 4 GW of wind and solar capacity to produce 1.3 million tonnes of urea derived from green hydrogen in its home country.