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AM Green Ammonia B.V. has reached the Final Investment Decision (FID) for its first million-tonne green ammonia project, set to be established in Kakinada, Andhra Pradesh. This decision marks the beginning of the companys ambitious goal to achieve a production capacity of 5 million tonnes per annum (MTPA) of green ammonia by 2030, equivalent to around 1 MTPA of green hydrogen. The company is backed by its founders along with shareholders Gentari and GIC. AM Green, founded by Anil Chalamalasetty and Mahesh Kolli of Hyderabad-based Greenko Group, is among the early adopters of energy transition solutions. The project will involve the construction of a green hydrogen generation unit and its conversion to green ammonia, with all necessary infrastructure included in the total project expenditure. A company executive shared that the project will be located at an existing urea plant in Kakinada, which was acquired earlier this year and will be transformed into a green ammonia production unit expected to start operations in the second half of 2026. The Kakinada facility has been pre-certified by CertifHy, aligning with EU RFNBO requirements for green ammonia, including renewable energy additionality and hourly matching. The majority of the facility’s output is destined for export to European markets. AM Green has already signed offtake term sheets with major players like Uniper, Yara, and Keppel, targeting a variety of green hydrogen applications. The project has secured 1,300 MW of round-the-clock carbon-free power, enabled by a 4,500 MW solar and wind hybrid capacity, combined with 950 MW of pumped storage capacity. A 25-year fixed-price power purchase agreement (PPA) with NTPC covers half of the required capacity, with the remaining expected to be supplied by Gentari. Beyond the Kakinada project, AM Green is focused on developing green ammonia production across multiple locations in India, aiming to reach its 5 MTPA target by 2030. This capacity is expected to significantly contribute to achieving net-zero goals in India and OECD (Organisation for Economic Cooperation and Development) markets. This initiative will help decarbonize industries such as refineries, shipping, fertilizers, power generation, and chemicals through the use of low-cost green molecules and their derivatives, said Anil Chalamalasetty, Founder of Greenko Group and AM Green. |
