Adani Total Gas launches green hydrogen blending project
November 28, 2023 / 03:20 PM IST
Earlier in the day, Adani Total Gas shares surged 20 percent after SC reserved its order to probe Adani companies
Adani Total Gas has launched a green hydrogen blending pilot in Ahmedabad. The company will blend green hydrogen with natural gas for 4000 residential and commercial customers.
“The project is expected to be commissioned by Q1FY24-25 and the percentage of green hydrogen will be gradually increased in the blend to up to 8 percent or more, depending on regulatory approvals,” the company said in a press release on November 28. After successfully completing the pilot, the hydrogen blended fuel would be supplied to larger parts of the city and other license areas of AGTL.
Green hydrogen is produced by electrolysis of water, where the water is split into hydrogen and oxygen when electricity is passed through water.
The electricity used for electrolysis is generated via renewable energy, according to Adani Total Gas. Blending hydrogen with gas reduced carbon intensity in the burning gas without losing its heating capabilities.
Adani Total Gas said studies showed 8 percent hydrogen blend can reduce carbon emissions by 4 percent.
Earlier in the day, Adani group companies rallied, which some experts said came after the Supreme Court expressed confidence in the SEBI probe against the group as it reserved its order on a bunch of pleas seeking a investigation into accounting fraud, stock manipulation and accusations made by US short-seller Hindenburg Research.
Also read: Adani stocks rally up to 20%, add $15 bn to MCap after SC reserves probe into Hindenburg charges
Adani Total Gas rallied 20 percent and was locked in the upper circuit at Rs 644.15 in the NSE but has lost 81.85 percent this year after the release of the Hindenburg report in late January.
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