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Billionaire Gautam Adani’s Adani Group is seeking to raise as much as $4 billion to help develop manufacturing plants that would produce low-cost green hydrogen, the report said ....
Adani Group Green Hydrogen: Adani New Industries Ltd., a subsidiary of Adani Enterprises Ltd., will spearhead the fundraising efforts from both domestic and international banks to build plants that would produce low-cost green hydrogen. The company is currently in initial discussions with various lenders. This move comes as India aims to reduce its carbon footprint. Gautam Adani has previously stated that 75% of the group s projected capital expenditure will be directed towards green businesses. ....
Despite inflationary challenges and elevated interest rates, financing in solar industry has remained robust through the first three quarters of 2023, Mercom Capital Group CEO Raj Prabhu said."The resilience can be attributed to a strong global push to achieve energy transition objectives and demand created by the Inflation Reduction Act - which has helped the sector weather persistent economic challenges and retain the interest of investors," he added. ....
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Green hydrogen is produced by using electricity from renewable sources such as solar, to power an electrolyzer that splits the hydrogen from water molecules ....