Ballard Power Systems has signed a non-binding MoU with the Adani Group to evaluate a joint investment case to commercialise fuel cells in India’s various mobility and industrial applications.
Both parties will examine various options to cooperate, including potential collaboration for fuel cell manufacturing in India.
Under the MoU, the newly formed subsidiary Adani New Industries Ltd will focus on generating green hydrogen, including downstream products, green electricity generation, and the manufacture of electrolysers and wind turbines.
Adani will be deploying innovative use cases across our businesses with fuel cell trucks, mining equipment, marine vessels, off-road vehicles, and critical industrial power.
Mr Vneet S Jaain, Director at Adani New Industries Limited, said, “Our ability to build a world-class green hydrogen value chain will be critical in facilitating the energy transition, and we are excited to partner with Ballard, a global leader in fuel cell technology, to create a shared fuel cell ecosystem in India.”
Mr Randy MacEwen, Ballard’s President & CEO, added, “India represents a new growth opportunity for Ballard, and we look forward to working with the Adani Group to support and accelerate their energy transition and decarbonisation goals.”
Adani Group is a solar power developer and aims to be the world’s largest renewable energy company by 2030. It has committed to investing US$70 billion in solar, wind and hydrogen value chains over the next decade as part of its commitment to global action on climate change. It aims to be one of the largest green hydrogen producers in the world through accelerated investment in renewable energy.