In a landmark agreement announced on June 26, 2024, in New Delhi, AM Green and SJVN Green Energy Limited (SGEL) have formalized a long-term partnership to power AM Green’s ambitious green ammonia facilities with renewable energy. Under the terms of the Memorandum of Understanding (MoU), SGEL will provide approximately 4,500 megawatts (MW) of carbon-free energy sourced from solar and wind power projects. AM Green will integrate this renewable energy with pumped hydro storage to ensure a reliable and sustainable power supply to its facilities.
The signing ceremony, attended by key executives including Sh. Akhileshwar Singh, Director of Finance at SJVN Ltd, Sh. Ajay Kumar Singh, CEO of SGEL, Sh. A M Jha, CFO of SGEL, Sh. Jitendra Yadhav, HOD (F&A) at SJVN Ltd, Sh. B C Tripathi, Senior Advisor at AM Green, and Dharampal Reddy, AVP at AM Green, signifies a strategic alliance aimed at advancing India's green energy transition and meeting ambitious renewable energy targets.
SJVN Green Energy Limited plans to execute the project in three phases, with the initial phase delivering 1,500 MW of renewable capacity within two years. This initiative not only represents a significant expansion of SJVN's renewable energy portfolio but also supports its goal of achieving 25,000 MW of installed capacity by 2030 and 50,000 MW by 2040.
AM Green, backed by the founders of Greenko Group, aims to produce 5 million tons per annum (MTPA) of green ammonia by 2030, equivalent to approximately 1 MTPA of green hydrogen. This output aligns with India’s National Green Hydrogen Mission and contributes to Europe's target for green hydrogen imports. Mahesh Kolli, Founder of Greenko Group & AM Green, emphasized the strategic importance of the partnership with SJVN, positioning AM Green as a global leader in clean energy solutions and industrial decarbonization.
Ajay Singh, CEO of SJVN Green, expressed enthusiasm about the collaboration, highlighting its potential to accelerate renewable energy development in India and marking SJVN’s entry into private sector power supply. The partnership underscores SJVN's commitment to pursuing diverse opportunities across the renewable energy spectrum.
Earlier collaborations, including investments from Gentari Sdn Bhd and Singapore’s sovereign wealth fund GIC in AM Green Ammonia Holdings BV, demonstrate AM Green's robust pipeline of power offtake agreements. These agreements, which include partnerships with NTPC Renewables and Gentari, position AM Green favorably for advancing its green ammonia projects and solidifying its leadership in the global green hydrogen market.
As AM Green progresses towards final investment decisions for its green ammonia projects, the company remains at the forefront of India's green energy sector, poised to drive significant contributions to sustainable energy production and global climate goals.
