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8
Feb
2023
By Reuters
Adani hits the pause button on green
hydrogen, will invest only after 2026
![](images/images_06_19_2023/VidCover-1.jpg)
TotalEnergies (TTE)
has not yet signed a contract, announced last year, to extend its
partnership with India’s Adani to
the production of green hydrogen, the chief executive of the French
oil major said Wednesday.
Patrick Pouyanne told reporters the company was
waiting for the result
of an audit launched by the Indian
conglomerate in response to allegations of financial irregularities by Hindenburg
Research.
“It was announced, nothing was signed. It doesn’t exist,” Pouyanne
said, referring to the new hydrogen venture. “Mr Adani has other
things to deal with now, it’s just good sense to pause things while
the audit goes forward.”
Pouyanne said TotalEnergies was “not in charge” of the financial
health of Adani Group, with which it has a number of joint ventures.
He said the stakes held by TotalEnergies in Adani Total Gas and Adani
Green Energy were still worth more than when the French company
purchased them.
“Adani Green is still worth twice as much as we invested, Adani Gas is
still worth eight times more. Our accounting is healthy, there was due
diligence before and due diligence after,” he said.
He added that Adani had not requested financial support from
TotalEnergies for existing projects.
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