- AM Green plans to develop green molecules like green hydrogen, green ammonia, biofuels, green caustic soda, and e-methanol in India, aimed at decarbonizing industries traditionally difficult to transition away from fossil fuels
New Delhi: AM Green, specializing in green hydrogen and green ammonia, has signed a memorandum of understanding (MoU) with Envision Energy International.
This partnership, for which the agreement was signed at the World Economic Forum’s Annual Summit in Davos, Switzerland, marks a strategic move to bolster clean energy projects in India, focusing on the manufacturing of wind turbines specifically for AM Green’s requirements, as well as a joint venture in green hydrogen initiatives.
The agreement, reflective of both companies’ commitment to renewable energy, is set to significantly impact AM Green’s operations in India. It involves a commitment from AM Green to procure a minimum of 2GW of wind turbine capacity annually over the next three years. This move is pivotal for AM Green in establishing a robust and reliable supply chain within India for high-quality, cost-effective wind turbines, ultimately aiming for an efficient and continuous power supply for its green molecule plants across the nation.
In addition to wind turbine production, the collaboration extends to the development of green hydrogen projects and the establishment of net zero industrial parks. Drawing on their combined technical expertise, AM Green and Envision will also work towards setting green hydrogen industrial standards.
Founded by Anil Chalamalasetty and Mahesh Kolli of the Hyderabad-based Greenko Group, AM Green aspires to be a leading global producer of green hydrogen, green ammonia, and other green molecules. Its agenda includes the development of green molecules like green hydrogen, green ammonia, biofuels, green caustic soda, and e-methanol in India. These are aimed at decarbonizing industries traditionally difficult to transition away from fossil fuels. The venture includes an international renewables and storage business and a joint venture with Belgium’s John Cockerill for electrolyser production.
“This partnership is bringing together two industry specialists to harness their manufacturing strengths to create sustainable business ventures for the long term. We are excited about the opportunity ahead in global decarbonisation,” said Kolli.
Kane Xu, Global VP and Country President, India, at Envision said, “Envision is very pleased to partner with AM Green which is part of the Greenko Group, one of India’s leading renewable energy conglomerates. Both Envision and AM Green share a similar vision for global decarbonization. This exciting partnership will also provide cutting edge solutions to positively impact India’s aggressive net zero and green energy goals.”
In October, the company announced one of the largest global green ammonia production plans. In an interview to Mint, Kolli had said that AM Green is in talks with various international and domestic lenders for firming up debt. He added that upon achieving 5 million tonnes per annum (MTPA) green ammonia production scale, AM Green will clock $4 billion in top line and $1.6 billion in run rate Ebitda basis.
In December, the company signed an MoU with Keppel Corp (Keppel), a global asset manager and operator to jointly explore opportunities to produce biogenic carbon-based sustainable fuels, such as bio and green methanol, second-generation (2G) ethanol and sustainable aviation fuel (SAF).
Envision Group, based in China, is a key player in the green technology space, offering smart wind turbines, energy storage systems, AIoT-powered batteries, and operating the world’s largest AIoT system.
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