Adani has seen over $100bn in losses since accusation of stock manipulation and accounting fraud
TotalEnergies shelves Adani green hydrogen project
CEO Patrick Pouyanne defends JV strategy amid controversy over Indian conglomerate’s finances
A $5bn green hydrogen project developed by a joint venture (JV) between TotalEnergies and Indian conglomerate Adani has been put on hold amid controversy over the latter’s finances, the French major’s CEO, Patrick Pouyanne, told a company results call. But he defends both the company’s partnership with Adani and the wider strategy of collaborating with local firms to enter new renewables and clean energy markets. Adani was accused of stock manipulation and accounting fraud by short-seller Hindenburg Research last month and has since seen its market value fall by more than $100bn. “We have an exposure which is quite limited, at $3-3.1bn,” Pouyanne says. He remains confident that the conglomer
Also in this section
12 November 2025
The UK now has a never-to-be-repeated opportunity to build indigenous manufacturing and production capabilities that create both domestic value and export opportunities
12 November 2025
Growth outlook hit by recent policy changes in pivotal year for the region’s hydrogen industry, says risk management firm DNV
10 November 2025
The success of hydrogen production will rely as much on software and data integration for optimisation and tracking as on physical infrastructure and demand
6 November 2025
After years of pursuing ideologically driven climate leadership, Western powers are now stepping back under mounting political pressure and rising populist opposition—prompting concern essential climate action could be sidelined
