The JV with Kowa for green hydrogen marketing is a natural and strategic extension of Adani Group's long-standing marketing and trading relationship with Kowa, stated the company.

Adani New Industries (ANIL), the green hydrogen platform of Adani Group is developing end-to-end solutions to produce globally competitive green hydrogen and its associated sustainable derivatives at scale.

The first project of ANIL of 1 million metric tonnes per annum (MMTPA) green hydrogen is being implemented in phases in Gujarat. The initial phase is expected to start production by FY 2027. Depending on market conditions, ANIL aims to increase capacity to up to 3 MMTPA of green hydrogen in the next 10 years, with an investment of about $50 billion.

Meanwhile, Adani Wind, the wind energy solutions division of ANIL, announced that its 5.2 MW wind turbine generator (WTG), has received type certification from WindGuard GmbH. The certification enables Adani Wind to start series production for global markets.

The certification under IEC System for certification to standards relating to equipment for use in renewable energy applications (IECRE) affirms that the Adani Wind's 5.2 MW WTG meets highest quality and safety standards and provides international recognition to this turbine, Adani Ent said.

Adani Enterprises (AEL) is the flagship company of Adani Group, one of India's largest business conglomerates. The company's business investments are centred on the fields of airport management, technology parks, roads, data centre and water infrastructure.

The company reported 43.55% jump in consolidated net profit to Rs 673.93 crore in Q1 FY24 as against Rs 469.46 crore posted in Q1 FY23. Revenue from operations slipped 37.72% year on year (YoY) to Rs 25,438.45 crore in the quarter ended 30 June 2023.

Shares of Adani Enterprises fell 0.04% to Rs 2,515.30 on the BSE.