Green hydrogen: RIL buys land, Adani Energy wins transmission order
RIL said its arm has acquired NTPL from Welspun Tradings; AESL said it won the project under tariff-based competitive bidding mechanism
 "Green hydrogen: RIL buys land, Adani Energy wins transmission order")
Mukesh Ambani-promoted Reliance Industries on Friday announced a ₹382 crore land deal to support its green hydrogen business.
On the other hand, Adani Energy Solutions (AESL) said it has won a ₹2,800 crore power transmission order for a green hydrogen project.
On Friday, RIL said its subsidiary Reliance Strategic Business Ventures Limited (RSBVL) acquired 100 per cent equity stake in Nauyaan Tradings Private Limited (NTPL) from Welspun Tradings Limited, a wholly-owned subsidiary of Welspun Corp Limited (WCL).
NTPL (post-acquisition) on Friday entered into a share purchase agreement with WCL to acquire 74 per cent equity stake in Nauyaan Shipyard (NSPL) for ₹382.73 crore.
NSPL is entitled to leasehold interest in about 138 acres (apart from right to use foreshore land) near RIL’s Dahej manufacturing plant.
“The land is proposed to be used for additional activities, including inter-alia for setting up of salt handling, storage and brine preparation facilities; engineering fabrication of structures; and manufacturing of hydrogen electrolysers,” RIL said.
In a separate announcement, AESL said it has won a ₹2,800 crore power transmission project in Gujarat to supply green electrons for manufacturing green hydrogen and green ammonia in Mundra, Gujarat.
The project involves upgrading the Navinal (Mundra) electrical substation by adding two large 765/400kV transformers and connecting the substation to Bhuj substation.
AESL said it won the project under the tariff-based competitive bidding (TBCB) mechanism and PFC Consulting Limited was the bid process coordinator.
AESL noted that this is the company’s sixth order win this financial year, taking its order book to ₹57,561 crore.
Expanding portfolio
Rs 382 crore land deal announced by Reliance
Rs 2,800 crore order won by Adani Energy Solution for power transmission
> RIL said its arm has acquired NTPL from Welspun Tradings
> Adani group’s project will supply green electrons for manufacturing Green Hydrogen and Green Ammonia in Mundra
> AESL said it won the project under tariff-based competitive bidding mechanism