Tuesday, July 16, 2024
HomeAll NewsGreen HydrogenAM Green, SJVN sign 4.5 GW renewables deal for green ammonia facilities

AM Green, SJVN sign 4.5 GW renewables deal for green ammonia facilities

AM Green and SJVN Green Energy Limited (SGEL), a wholly-owned subsidiary of SJVN, have signed a Memorandum of Understanding (MoU) for the long-term supply and sourcing of renewable energy. According to the agreement finalized in New Delhi, SGEL will provide approximately 4.5 GW of carbon-free energy from solar and wind sources to support AM Green’s upcoming green ammonia facilities.

To ensure consistent power supply to its facilities, AM Green will integrate this renewable energy with pumped hydro storage. The MoU was formalized in the presence of senior officials, including Sh. Akhileshwar Singh, Director of Finance at SJVN Ltd, and Sh. Ajay Kumar Singh, CEO of SGEL, among others.

As part of the phased project plan, SGEL aims to deliver the first 1,500 MW within two years. This initiative supports SJVN’s broader objectives to expand its renewable energy capacity to 25,000 MW by 2030 and 50,000 MW by 2040. AM Green, supported by the founders of Greenko Group, targets a production capacity of 5 million tonnes per annum of green ammonia by 2030. This capacity aims to fulfill approximately one-fifth of India’s target under the National Green Hydrogen Mission and 10 percent of Europe’s target for green hydrogen imports by 2030.

Mahesh Kolli, Founder of Greenko Group & AM Green, commented on the collaboration, “We are excited to partner with SJVN on one of the world’s largest contracts for carbon-free renewable energy supply. This partnership underscores AM Green’s emerging leadership as a global platform for clean energy transition solutions, contributing to India’s ambition to become a reliable exporter of sustainable, low-cost green molecules and derivatives, thereby accelerating global industrial decarbonisation.”

Ajay Singh, CEO of SJVN Green, added, “We are thrilled to collaborate with AM Green, as this partnership holds immense potential to accelerate the development of renewable assets in India. It also marks SJVN’s entry into supplying power to private sector entities. With our ambitious capacity addition targets, SJVN is actively pursuing opportunities across the spectrum and looks forward to advancing this arrangement with AM Green.”

In addition to these developments, AM Green has recently secured strategic partnerships and investments, including notable collaborations with Gentari Sdn Bhd and Singapore’s sovereign wealth fund, GIC, to strengthen its position in the global green ammonia market. The company is on the verge of making a final investment decision for its first 2 MTPA green ammonia project early this year, enhancing its competitive edge both domestically and internationally.



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