Gautam Adani-led Adani Group announced on Friday that it has entered into a strategic collaboration with Italy-based Snam, Europe’s leading gas infrastructure company, to explore the hydrogen value chain in India and global markets, as well as the development of biogas, biomethane, and low-carbon mobility.
The collaboration was part of the virtual summit between Indian Prime Minister, Narendra Modi and Italian Prime Minister, Giuseppe Conte held on Friday. Further, a non-binding agreement has been signed between Snam and Adani Gas [a joint venture company of Adani Group and Total of France (formerly known as Total SA)] to create a joint venture for setting up a CNG compressors manufacturing facility in India. This would help in promoting the development of refuelling infrastructure for sustainable mobility and fostering the use of natural gas, as envisioned by the Government of India.
Adani Group Chairman, Gautam Adani, said, “In line with India’s target of 450 GW of renewable energy by 2030, the Adani Group has embarked on one of world’s most ambitious carbon offset programs. Given the commitment of our Government to sustainability and the sheer scale of need, India will be one of the most attractive transition markets for low carbon electricity technologies. We intend to play an essential role in this energy mix transition.”