Adani Global and Kowa Holdings Asia have formed an equal joint venture for the sale and marketing of the former’s green hydrogen and ammonia in Japan, Taiwan, and Hawaii. Adani New Industries Limited will produce the green hydrogen, which will be put up for sale.
Reportedly, the production of the hydrogen is expected to begin by 2027 and is anticipated to generate one million metric tonnes per annum of green hydrogen. Adani New Industries Limited intends to boost capacity to up to 3 million metric tonnes per annum of green hydrogen in the next 10 years, with an investment of about $50 billion.
Furthermore, the company aims to build an integrated hydrogen ecosystem within three business streams, manufacturing and supply chains, green hydrogen generation, and the production of downstream derivative products such as green ammonia, green methanol, and sustainable aviation fuels.
In June 2023, Mitsui OSK Lines and Toyo Construction established a joint venture to investigate prospects in offshore wind power in Japan. Following a study and discussions on potential areas of collaboration, the companies formed a 50:50 joint venture. MOL Shipping and Toyo, a provider of maritime and civil engineering services, intended to collaborate in a variety of offshore wind-related fields, such as survey planning, the acquisition of work boats, and offshore construction.
REGlobal’s Views: This new joint venture of Adani and Kowa comes at a time when India’s green hydrogen market is expanding with new incentives and schemes and entry of many players. Adani is present in the green energy development and solar module manufacturing space, as well as in ports and power transmission segments. Thus, the company is suitably placed to set up green hydrogen production facilities for export in emerging markets of Asia and elsewhere.