Adani Total Gas' Ambitious Green Hydrogen Blending Project Takes Off In Gujarat

Adani Total Gas Limited (ATGL) has embarked on an initiative in Ahmedabad, Gujarat, to blend green hydrogen with natural gas. This move aims to provide over 4,000 residential and commercial consumers with a greener energy alternative.

What Happened: The Adani Group company on Tuesday inaugurated the “Green Hydrogen Production and Blending Pilot Project.” This venture employs cutting-edge technology to generate green hydrogen through water electrolysis using electricity harnessed from renewable sources. The green hydrogen is subsequently blended with natural gas, delivering a less carbon-intensive energy source with heating capabilities comparable to conventional gas.

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The project is anticipated to be commissioned by June 2024. The blend will gradually increase the proportion of green hydrogen to 8% or more, subject to regulatory approvals. Upon successful completion of the pilot, the hydrogen-blended fuel will be progressively distributed to larger sections of the city and other license areas of AGTL.

This development comes at a time when all listed Adani Group stocks, including Adani Total Gas, are experiencing a significant surge today. This uptick comes after the Supreme Court’s recent conclusion of hearings on multiple petitions seeking an investigation into allegations of accounting fraud and stock manipulation against the Gautam Adani-led Group.

The court emphasized that it cannot initiate a probe solely based on reports without providing the implicated entities an opportunity to present their case, which has strengthened investor confidence in the group’s stocks.

Price Action: Adani Total Gas share price was locked in 20% upper circuit at ₹644.30 on Tuesday.

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