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New venture targets first delivery of green ammonia by late 2025
Gentari, the clean energy division of Malaysias Petronas and AM Green, set up by the founders of Indian green renewable energy company Greenko, announced on Sunday the signing of definitive agreements with an affiliate of Singapores GIC to produce five million tonnes per annum (MTPA) of green ammonia by 2030 – equivalent to about 1 MTPA of green hydrogen.
Greenko said in a statement that the green ammonia will be produced by a unit of AM Green, known as AM Green Ammonia Holdings.
Post-investment from Gentari, GIC and AM Green, the unit will be a fully funded platform that will invest, in phases, in the Indian regions of Andhra Pradesh, Tamil Nadu, Gujarat, Karnataka, and Himachal Pradesh.
The 5 MTPA of green ammonia will be equivalent to about 1 MTPA of green hydrogen, representing a fifth of Indias target for green hydrogen production under the countrys National Green Hydrogen Mission and 10 per cent of Europes target for green hydrogen imports by 2030, calculated as per data available on Green Hydrogen Organisation’s website.
Exports of green ammonia to key OECD markets, such as Germany, Japan, South Korea, as well as Singapore from this platform is expected to begin in late 2025.
The statement said production of green ammonia by AM Green will be supported by the round-the-clock renewable energy supplied via offtake agreements and electrolysers manufactured by another unit of AM Green, AM Green Technology & Solutions.
It said AM Green will also produce green molecules such as green methanol, green caustic soda, green chlorine, biofuels and various downstream high value green chemicals under its AM Green Molecules subsidiary.
In addition, AM Green will also house a joint venture with John Cockerill of Belgium to manufacture electrolysers in its AM Green Technology & Solutions subsidiary; supplying about 6.5 gigawatts (GW) of electrolysers to AM Green Ammonia by 2030.
Citigroup Global Market India and Cyril Amarchand Mangaldas acted as the exclusive financial and legal advisors to AM Green for this transaction.
AM Green is indirectly wholly owned and controlled by the founders of Hyderabad-based Greenko Group - Anil Chalamalasetty and Mahesh Kolli. |
