Synopsis
India’s green hydrogen mission faces a big jolt, as Adani, which had earlier committed USD50 billion for the project, says there is likely to be no capex allocation on this in FY25. The company’s major expansion plans for the green hydrogen business will be only taken up after 2026 or 2028.
Call it collateral damage.When a report by Hindenburg Research accused Adani group of accounting fraud and stock manipulations, it was not only the shares of the conglomerate that took a hit. India’s ambition to become a key player in green hydrogen, too, got the chill.In June 2022, the Gautam Adani-led group committed to invest USD50 billion to produce the world’s cheapest green hydrogen. But the company has now hit a pause button on this,
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