The Adani Group said it has signed a non-binding Memorandum of Understanding with Nasdaq-listed Ballard Power Systems to evaluate making joint investment for commercialisation of hydrogen fuel cells in various mobility and industrial applications in India.

Under the MoU

  1. Both parties will examine various options to cooperate, including potential collaboration for fuel cell manufacturing in India.
  2. Hydrogen is increasingly viewed as a critical medium for the decarbonization of energy, industry, and mobility.
  3. Adani aims to be one of the largest green hydrogen producers in the world through accelerated investment in renewable energy.
  4. Efforts under this MoU will be anchored by Adani New Industries Limited (ANIL), the newly formed subsidiary of Adani Enterprises, focused on generation of green hydrogen, including downstream products, green electricity generation, manufacture of electrolysers and wind turbines, among others.
  5. Green hydrogen is the fuel of the future and fuel cells will be a game-changer in India’s energy transition.