euroindia February 15, 2023 0 Comments
TotalEnergies’ decision to pause $4-billion investment in a green hydrogen venture with Adani Group, pending audits of the Indian conglomerate accused of fraud by an US investor, will impact the project’s growth funding as the French energy major was to also guarantee half of its debt.

ANIL and TotalEnergies had outlined a capex plan of $50 billion to set up a 2.5 million metric tonnes per annum (mmtpa) of green H2 manufacturing capacity over the next 10 years, with the first phase of 1.0 mmtpa expected to be commissioned before 2030. What was not publicly disclosed was that, as per the deal terms, Total had made a total of $10-billion capital commitment to the hydrogen venture, standing as guarantor to 50 per cent of the project’s debt, translating to $6 billion.

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