Adani has seen over $100bn in losses since accusation of stock manipulation and accounting fraud
TotalEnergies shelves Adani green hydrogen project
CEO Patrick Pouyanne defends JV strategy amid controversy over Indian conglomerate’s finances
A $5bn green hydrogen project developed by a joint venture (JV) between TotalEnergies and Indian conglomerate Adani has been put on hold amid controversy over the latter’s finances, the French major’s CEO, Patrick Pouyanne, told a company results call. But he defends both the company’s partnership with Adani and the wider strategy of collaborating with local firms to enter new renewables and clean energy markets. Adani was accused of stock manipulation and accounting fraud by short-seller Hindenburg Research last month and has since seen its market value fall by more than $100bn. “We have an exposure which is quite limited, at $3-3.1bn,” Pouyanne says. He remains confident that the conglomer
Also in this section
9 October 2024
Danish government stresses support for hydrogen pipeline project despite slippage of three or four years in commissioning timetable
9 October 2024
Stringent upstream methane thresholds and ambiguity over compliance with state aid will leave developers struggling, says Hydrogen Europe
9 October 2024
Geopolitical shift is boosting investment case for renewable hydrogen production in the two regions
8 October 2024
As the world decarbonises, the emergence of green hydrogen stands as a pivotal force in the energy transition landscape
