Adani Group Merges Subsidiaries with Adani New Industries to Boost Green Hydrogen and Wind Power Efforts
The Adani Group announced the merger of two subsidiaries, Adani Infrastructure Private Limited and Mundra Solar Technology Limited, with Adani New Industries Ltd (ANIL). ANIL, focused on green hydrogen and renewable energy, is a fully owned subsidiary of Adani Enterprises Ltd. The merger strengthens ANIL’s capabilities in low-carbon projects, including wind turbine and solar module manufacturing, with French energy company TotalEnergies owning a 25% stake in ANIL.
The Adani group has announced that it will merge two of its step-down subsidiaries with Adani New Industries Ltd (ANIL), a company focused on green hydrogen and wind turbine manufacturing. This was confirmed in a filing to the stock exchange on Wednesday.
The two companies being merged are Adani Infrastructure Private Limited and Mundra Solar Technology Limited, which will now be part of ANIL, a fully owned subsidiary of Adani Enterprises Ltd, the flagship company of the Adani group.
Adani Infrastructure and Developers is a real estate company that works on developing thermal and solar power projects, along with providing engineering and project management services. On the other hand, Mundra Solar Technology, which is less than three years old, focuses on producing, collecting, and distributing electricity.
ANIL is involved in low-carbon projects, including the production of green hydrogen and the manufacturing of wind turbines and solar modules. The company serves various sectors worldwide, including energy, utilities, transportation, and logistics.
According to a report by CARE Ratings Ltd from July, Adani has a facility that can produce 4 gigawatts (GW) of solar photovoltaic (PV) modules, along with the ability to create solar PV cells and ingots. ANIL is also setting up new facilities to make solar glass, aluminum frames, and backsheets, which are important components for solar products. French energy company TotalEnergies owns a 25% stake in ANIL, while Adani Enterprises holds the rest.
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