KUALA LUMPUR: India’s energy transition solutions provider, AM Green and a wholly owned subsidiary of SJVN Limited, SJVN Green Energy Limited (SGEL), have entered into a Memorandum of Understanding (MoU) for a long-term agreement to supply and source renewable energy.
According to AM Green, under the agreement signed on 26 June, SGEL will supply approximately 4,500 megawatts (MW) of carbon-free energy to AM Green’s upcoming green ammonia facilities.
SGEL will set up this capacity through solar and wind power, while AM Green will integrate it with pumped hydro storage to ensure a steady supply of green energy to AM Green facilities.
Greenko Group & AM Green Founder, Mahesh Kolli said the company is delighted to partner with SJVN on one of the world’s largest carbon-free, renewable energy supply contracts.
“This partnership demonstrates AM Green’s emerging leadership position as a global clean energy transition solutions platform while contributing to India’s ambition of emerging as an exporter of reliable, sustainable and lowest-cost green molecules and its derivatives accelerating industrial decarbonisation globally,” he said.
Meanwhile, SJVN Green Chief Executive Officer, Ajay Singh said: “We are elated to embark on this collaboration with AM Green, as it holds tremendous potential for accelerating the development of renewable assets in India. The project also marks SJVN’s foray into supplying power to private sector entities.”
SJVN plans to execute the project in three phases, with the first phase delivering 1,500MW within 2 years. This initiative is a major milestone for SJVN’s renewable energy expansion in India, supporting its goal of reaching 25,000MW by 2030 and 50,000MW by 2040.
AM Green, promoted by the founders of Greenko, targets to produce 5 million tonnes per annum (MTPA) of green ammonia by 2030, equivalent to about 1 MTPA of green hydrogen.
This represents a fifth of India’s target for green hydrogen production under the country’s National Green Hydrogen Mission and 10% of Europe’s target for green hydrogen imports by 2030.
— BERNAMA
