3 Adani Group Firms Join World Economic Forum Initiative On Decarbonisation

Three Adani portfolio companies - Adani Enterprises Ltd (AEL), Adani Ports and Special Economic Zone Ltd (APSEZ) and Ambuja Cements Ltd - have joined the World Economic Forum's 'Transitioning Industrial Clusters' initiative, forming the 'Adani Mundra Cluster', the group said in a statement. 

The Adani Mundra Cluster will become one of the world's largest integrated green hydrogen hubs, with a planned capacity of 1 Million Metric Tonnes Per Annum (MMTPA) of green hydrogen production by 2030, expanding up to 3 MMTPA by 2040, they added.

The World Economic Forum initiative aims to mobilise the economic, employment, and energy potential of industrial clusters, through a structured approach to financing, policy, technology, and partnerships- combined with best practices from committed clusters-the initiative works to improve cooperation and create a common vision for the energy transition, jobs and growth.

"By joining the World Economic Forum's Transitioning Industrial Clusters initiative, the signatories will have the opportunity to collaborate with global industry peers, think tanks, policymakers and experts to pioneer innovative approaches towards decarbonization," said Karan Adani, Managing Director of APSEZ and Director of Ambuja Cements. 

"The Adani Mundra Cluster aspires to become an integrated green hydrogen manufacturing hub, helping to decarbonise the hard-to-abate sectors of the Indian economy and reduce the country's dependency on energy imports," Mr Adani said.

The Adani Group said the World Economic Forum has played an important role in fostering collaboration among key stakeholders in the cluster and elevating the cluster's strategy to drive economic growth, employment, and decarbonisation through strategic meetings and in-country workshops.

"We are delighted to welcome the Adani Mundra Cluster to our international community of 23 industrial clusters, as one of the first two clusters in India," said Roberto Bocca, Head of the Centre for Energy and Materials and Member of the Executive Committee at the World Economic Forum. 

"By tapping into Gujarat's significant renewable energy capacity, the cluster is on track to becoming one of the leading green hydrogen hubs in South Asia. Within the Transitioning Industrial Clusters community, Adani Mundra can exchange knowledge with fellow clusters and advance the energy transition," Mr Bocco said.

The Adani Group said it will be supported by a fully integrated value chain comprising 10 GW of solar modules, 5 GW of wind turbines and 5 GW of electrolyser manufacturing capacity, alongside associated port infrastructure. 

The cluster will also have production facilities for green hydrogen derivatives such as ammonia, further solidifying its leadership in the green energy transition, they added.

Mundra Port has advanced solar module and wind turbine manufacturing for challenging-to-decarbonise cement production.

APSEZ has committed to powering all its port operations with renewable electricity by 2025, with a target of achieving net-zero emissions as early as 2040, the said.

The upcoming Ambuja unit in Mundra aims to be the lowest-emission-intensity cement production facility globally, aligning with the company's goal of achieving net zero by 2050, the group said.

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