This collaboration is intended to explore several opportunities in the energy space
November 07, 2020 (Gujarat): The Adani Group has announced a strategic collaboration with Italy-based Snam and the collaboration would envisage exploration of the hydrogen value chain in India and global markets as well as the development of biogas, biomethane, and low-carbon mobility.
As part of the strategic partnership, Adani Group and Snam, Europe’s leading gas infrastructure company, intend to explore several opportunities in the energy space where each group brings complementary capabilities to the table.
“The collaboration, an integral part of the virtual summit between Indian Prime Minister Narendra Modi and Italian Prime Minister Giuseppe Conte, would envisage exploration of the hydrogen value chain in India and global markets, as well as the development of biogas, biomethane, and low-carbon mobility,” an Adani Group press release said on Friday.
Adani Group Chairman, Gautam Adani said the Group has embarked on one of world’s most ambitious carbon offset programmes in line with India’s target of 450 GW of renewable energy by 2030.
“Given the commitment of our government to sustainability and the sheer scale of need, India will be one of the most attractive transition markets for low carbon electricity technologies. We intend to play an essential role in this energy mix transition. Our recent ranking as the world’s largest solar power company is a validation of our intent and we will continue to diversify our energy portfolio,” he said.
“Therefore, our multi-pronged partnership with Snam has several strategic nuances. Given India’s urban and rural differences, biogas and biomethane cannot be considered in isolation from the nation’s broader energy system needs. The ability to simultaneously decentralize and decarbonize energy production and be able to provide clean energy and cooking fuel to rural India is a national need that we must fulfil and technologies that can help economically produce biogas and biomethane are optimal choices,” he added.
Gautam Adani said the ability to leverage scale and technology to produce 100 per cent green hydrogen using renewable energy is the most economical and cleanest way to serve a concentrated set of end-users and industrial clusters.
“In this context, the combination of Adani’s ability to provide the largest national energy platform and Snam’s broad technology expertise can be pivotal in helping India accelerate its sustainability journey,” he said.
Snam CEO Marco Alvera said India will have a key role in reaching the global climate goals and Snam aims to contribute to this process with its know-how and its realization capacity.
“The partnership with a significant group like Adani, undertaken at both an Indian and global level, goes in this direction. Together we want to develop joint-projects in energy transition, from biomethane to hydrogen, in order to enable the decarbonization of India and other countries, and create new development opportunities,” he said.
The release said that a non-binding agreement has been signed between Snam and Adani Gas Limited [a joint venture company of Adani Group and Total of France (formerly known as Total SA)] to create a joint venture for setting-up a CNG compressors manufacturing facility in India.
This would help in promoting the development of refuelling infrastructure for sustainable mobility and fostering the use of natural gas, as envisioned by the Government of India.