Gautam Adani put pause button on his dream project Green Hydrogen for this reason, will invest only after 2026
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Will invest now after 2026
Explain that Gautam Adani had announced an investment of $ 50 billion to manufacture the world’s cheapest green hydrogen. But now the stalling of this project has put a question mark on the future of India’s upcoming hydrogen ecosystem. According to Gautam Adani, now the Green Hydrogen Business Expansion will be possible only after 2026 or 2028. Robbie Singh, Chief Financial Officer of Adani Enterprises, the flagship company of Adani Group, has confirmed this.
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Because of this the project got stuck
In fact, since the report of American research firm Hindenburg came out in the month of January this year, Adani Group has suffered a lot. According to which the funding should have been done, it has not happened. Adali Enterprises FPO was brought in to give approval to the project, that too has collapsed. A major portion of the proceeds from this FPO was to be spent in the green hydrogen sector. For this reason, the project of Adani Group has been postponed for 3 to 5 years. Adani’s direct competition in this sector is with Mukesh Ambani. Reliance Industries has also announced to invest heavily in this sector.
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