India’s Gautam Adani is prepared to go it alone in spending billions of dollars on developing green hydrogen in India, after TotalEnergies SE put a plan to partner in the venture on hold.
The French energy giant had agreed to buy a 25% stake in Adani New Industries Ltd. for an undisclosed sum to help fund green hydrogen projects in India, as the world’s third-largest polluter seeks to decarbonize. But Total suspended its investment in February, pending investigation of a short seller’s allegations of fraud at the Adani Group, charges that the conglomerate has denied.
