Buy
Sell
Share Name Share Symbol Market Type
TotalEnergies SE EU:TTE Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.29 2.23% 59.03 59.02 59.03 59.10 57.98 58.13 2,365,421 14:56:16

TotalEnergies Acquires 25% Interest in Adani New Industries

14/06/2022 7:01am

Dow Jones News


TotalEnergies (EU:TTE)
Historical Stock Chart


From May 2022 to Nov 2022

Click Here for more TotalEnergies Charts.

By Maitane Sardon

 

TotalEnergies SE said Tuesday that it has acquired a 25% interest in Adani New Industries Ltd., the incubator of Indian multinational conglomerate Adani Enterprises Ltd.

Adani New Industries will be the exclusive platform of Adani and TotalEnergies for the production and commercialization of green hydrogen in India, the French oil-and-gas company said.

Adani New Industries will target production of 1 million metric tons of green hydrogen a year by 2030. It also intends to develop a project to produce 1.3 metric tons of urea derived from green hydrogen a year for the Indian domestic market, with an investment of around $5 billion in a 2-gigawatt electrolyzer fed by renewable power, TotalEnergies said.

"This future production capacity of 1 mtpa of green hydrogen will be a major step in increasing TotalEnergies' share of new decarbonized molecules--including biofuels, biogas, hydrogen, and e-fuels--to 25% of its energy production and sales by 2050," Patrick Pouyanne, chairman and chief executive officer of TotalEnergies, said.

 

Write to Maitane Sardon at maitane.sardon@wsj.com

 

(END) Dow Jones Newswires

June 14, 2022 01:46 ET (05:46 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

1 Year TotalEnergies Chart

1 Year TotalEnergies Chart

1 Month TotalEnergies Chart

1 Month TotalEnergies Chart
Your Recent History
EU
TTE
TotalEnerg..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20221130 03:09:54