Italy’s Snam ties up with Adani Group and Greenko1 min read . Updated: 06 Nov 2020, 10:58 PM IST
- Apart from reducing dependence on fossil fuels for mobility, these green hydrogen plants will also provide grid-scale storage solutions, and provide feedstock for ammonia production
Greenko and Adani Group have separately tied up with Italy’s Snam S.p.A. for setting up a green hydrogen business. This comes in the backdrop of state-run Solar Energy Corp. of India looking to invite bids to build green hydrogen plants, which will use renewable energy sources.
While Greenko has tied up with Snam for setting up a 50-50 joint venture to develop a “green hydrogen" business in India, the Italian firm has collaborated with the Adani Group to “envisage exploration of the hydrogen value chain in India and global markets, as well as the development of biogas, biomethane, and low-carbon mobility". A non-binding deal was also inked between Snam and Adani Gas to set up a CNG compressors manufacturing unit.
“Through the deal, the firms will collaborate on the study of hydrogen production methods from renewables, on the design of hydrogen-ready infrastructure and on final applications in both industry and transport," Greenko said. Snam, earlier owned by Eni S.p.A., has the largest gas pipeline network in Europe and plans to invest €6.5 billion in new energy transition businesses like sustainable mobility.