Shares of Adani Enterprises rose by more than 1.5% on June 23 after its subsidiary, Adani New Industries Limited (ANIL), announced the successful commissioning of India’s first off-grid green hydrogen pilot plant. The stock touched an intraday high of ₹2,487 per share following the announcement.
The 5 MW green hydrogen plant, located in Kutch, Gujarat, is fully powered by solar energy and functions independently of the grid through the integration of a Battery Energy Storage System (BESS). ANIL described the development as a transformative step toward decentralized, renewable-powered hydrogen production.
The pilot facility features an advanced, automated electrolyzer system in a closed-loop design. This system can dynamically respond to real-time renewable energy inputs, helping it maintain efficiency and safety while addressing the intermittency challenges of solar power.
According to the company, this project is a major milestone in support of India’s National Green Hydrogen Mission and aligns with the broader ambition of positioning the country as a global leader in green hydrogen production. “This initiative demonstrates the Adani Group’s dedication to innovation and sustainability and sets a new benchmark for renewable-powered industrial applications in hard-to-abate sectors,” ANIL said.
In 2024, Adani Enterprises consolidated its green energy business by merging Adani Infrastructure and Mundra Solar Technology into ANIL. The newly commissioned hydrogen facility serves as a proof of concept for the group’s upcoming large-scale Green Hydrogen Hub in Mundra, Gujarat.
The company’s shares have risen more than 6% over the last six months. However, the stock has declined by over 2% in the past five days and is down nearly 3% in 2025 to date. On a one-year basis, Adani Enterprises has fallen more than 22%. The stock currently trades at an adjusted price-to-earnings (P/E) ratio of over 66.
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Source: Moneycontrol.
