AM Green and SJVN Green Energy Limited form historic 4,500 MW renewable energy partnership to power green ammonia production

AM Green and SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN, have signed a Memorandum of Understanding (MoU) to enter into a long-term renewable energy supply and procurement agreement.

Under the agreement, SGEL will supply approximately 4,500 MW of carbon-free power to AM Green’s upcoming green ammonia plant. SGEL plans to generate this power using solar and wind power, while AM ​​Green will incorporate hydroelectric storage to ensure a steady supply of green power.

The MoU was signed in New Delhi in the presence of key officials including Sh. Akhileshwar Singh, Chief Financial Officer, SJVN Ltd, Sh. Ajay Kumar Singh, CEO, SGEL, Sh. AM Jha, Chief Financial Officer, SGEL, Sh. Jitendra Yadhav, Head of Finance & Accounts, SJVN Ltd, Sh. BC Tripathi, Senior Advisor, AM Green and Dharampal Reddy, Vice President, AM Green.

SJVN plans to deliver this project in three phases, with the first phase delivering 1,500 MW over two years. This initiative represents a significant milestone in SJVN’s renewable energy expansion, supporting its goals of achieving 25,000 MW by 2030 and 50,000 MW by 2040.

AM Green, promoted by the founders of Greenko, aims to produce 5 million tons per annum (MTPA) of green ammonia by 2030, equivalent to about 1 MTPA of green hydrogen. This is one-fifth of India’s green hydrogen production target under the National Green Hydrogen Mission and 10 percent of Europe’s green hydrogen import target by 2030.

Mahesh Kolli, founder of Greenko Group and AM Green, expressed his enthusiasm by stating, “We are delighted to be working with SJVN on one of the world’s largest carbon-free renewable energy supply contracts. This partnership demonstrates AM Green’s emerging leadership in the global clean energy transformation, while contributing to India’s ambition to become a leading exporter of reliable, sustainable and cost-effective green molecules and derivatives, accelerating global industrial decarbonization.”

Ajay Singh, CEO, SJVN Green, He added, “We are delighted to partner with AM Green as it has the potential to accelerate the development of renewable resources in India. This project also marks SJVN’s foray into supplying power to private sector players. With our ambitious capacity expansion targets, SJVN is actively pursuing opportunities across the spectrum and is keen to build on this alliance with AM Green.”

In October 2023, Gentari Sdn Bhd, through its subsidiary Gentari International Renewables Pte Ltd, signed an agreement with AM Green to invest in phases in AM Green Ammonia Holdings BV (AMG Ammonia). Singaporean sovereign wealth fund GIC is also an investor in AMG Ammonia.

AM Green has secured a robust pipeline of offtake agreements, including with NTPC Renewables and Gentari, to support its green hydrogen ambitions. These agreements put AM Green on a fast track to a final investment decision (FID) for its first 2 MTPA green ammonia project early this year, ahead of other companies pursuing green ammonia capacity in India and globally.

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