Adani Enterprises shares gained over 1.5 percent on June 23 after its subsidiary announced that it has successfully commissioned India's first off-grid 5 MW green hydrogen pilot plant in Kutch, Gujarat. The shares of Adani Group's flagship company hit an intraday high of Rs 2,487 apiece.
Adani New Industries (ANIL), a wholly-owned subsidiary of Adani Enterprises, announced on June 23 that the state-of-the-art plant will completely be powered by solar energy. It is capable of operating fully off-grid as it is integrated with a Battery Energy Storage System (BESS). "This represents a new paradigm in decentralized, renewable-powered hydrogen production," the firm said.
The pilot plant features a fully automated, closed-loop electrolyzer system that is designed to respond dynamically to real-time renewable energy inputs. "This provides valuable operational flexibility, particularly in addressing the variability of solar power, while ensuring efficiency, safety and performance," it added.
ANIL said that the pilot project marks a key milestone towards enabling India’s National Green Hydrogen Mission. "This breakthrough reinforces the Adani Group’s commitment to innovation, sustainability, and leadership in the emerging green hydrogen economy. It supports India’s ambition to become a global hub for green hydrogen production and sets a benchmark for renewable-powered industrial applications across hard to-abate sectors," the firm further said.
Notably, Adani Enterprises had merged two of its subsidiaries to ANIL in 2024. These were Adani Infrastructure and Mundra Solar Technology. ANIL in its latest statement said that the pilot green hydrogen project serves as a "proof of concept" ahead of its upcoming Green Hydrogen Hub in Gujarat's Mundra.
Adani Enterprises share price history:
Adani Enterprises shares have gained over 6 percent in the past six months. However, the stock has fallen over 2 percent in the past five days, and is down nearly 3 percent in 2025 so far. The stock tumbled over 22 percent in the past one year. It currently has an adjusted P/E ratio of over 66.
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