Adani Power stocks in focus as 330MW unit at Mundra to co-fire green ammonia

Shares of Adani Power Ltd will be in focus today after the Adani group firm in a filing to stock exchanges said the largest domestic private sector power plant Mundra will co-fire up to 20 per cent green ammonia in the boiler of a conventional coal fired 330MW unit.  Adani Power is collaborating with IHI Corporation and Kowa Corporation to decarbonise its own thermal power plants, starting with the 4,620 MW Mundra power plant.

"Green ammonia, produced from green hydrogen, which in turn is produced through electrolysis using renewable energy, would be a feedstock for the boilers. As ammonia contains no carbon, there is no CO2 emission from its combustion, making it a long-term carbon neutral alternative to fossil fuels. Adani Power has already set a benchmark in the industry for 'per-unit' emissions and has adopted state of the art 'Ultra Supercritical technology' in its newest plants," Adani Power said.

Shares of Adani Power closed at Rs 445.80 on Tuesday, up 12.32 per cent. The scrip was up, as the whole Adani pack rallied after the Supreme Court reserved its order on the Adani-Hindenburg Research case. The move pushed the market capitalisation of Adani group by over Rs 1 lakh crore on Tuesday.

Adani Power on Wednesday noted it has partnership with IHI and Kowa-Japan to deliver the pilot and examine expansion to other Adani Power units and stations. Kowa, it said, is active in energy saving and energy creating products, while IHI is a heavy industry company which has ammonia firing technology.

"Combustion tests at IHl's facility in Japan have begun with 20 per cent ammonia blend, simulating Mundra Power Station equipment. The partners believe that the results will be encouraging enough to implement this solution at the Mundra Power Station once economic parity is achieved between both feedstocks. The Mundra plant is the first location outside of Japan to have been selected for this cutting-edge green initiative," Adani Power said.

The ambitious project is conceived under the aegis of Japan-India Clean Energy Partnership (CEP), which aims to ensure energy security, achieve carbon neutrality, and achieve economic growth, Adani Power said. 

Also read: Top 10 stocks to watch on November 29 2023: Tata Power, BHEL, ICICI Lombard, Global Health, Wipro and more

Also read: Stock recommendations for November 29, 2023: HCL Tech, Max Financial Services and Praj Industries

Also read: Stocks in focus: Zomato, Tata Power, Canara Bank, Varun Beverages and more