AM Green and SJVN Green Energy (SGEL), a subsidiary of SJVN, on Monday said they have entered into a memorandum of understanding (MoU) for a long-term agreement for supply and sourcing of renewable energy. The supply agreement is one of the largest such agreements signed in the sector.
Under the agreement, SJVN Green Energy (SGEL) will supply ~4,500 MW of carbon-free energy to the upcoming green ammonia facilities of AM Green, which is promoted by the founders of Greenko. 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
SJVN plans to execute the project in three phases, with the first phase delivering 1,500 MW within two years. This initiative is a major milestone for SJVN’s renewable energy expansion in India, supporting its goal of reaching 25,000 MW by 2030 and 50,000 MW by 2040, the company said.
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AM Green targets to produce 5 million tonne per annum (MTPA) of green ammonia by 2030, equivalent to about 1 MTPA of green hydrogen.
Mahesh Kolli, founder, Greenko Group and AM Green said: “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.”
Ajay Singh, CEO, SJVN Green, said: “The project also marks SJVN’s foray into supplying power to private sector entities.”
From: financialexpress
Financial News
