AM Green & SJVN Sign MoU for Renewable Energy

02 Jul 2024 CW Team

The MoU, formalized at a ceremony in New Delhi, outlines plans for integrating this renewable energy with pumped hydro storage solutions, ensuring a stable power supply for AM Green?s facilities. Senior officials including Sh. Akhileshwar Singh, Director of Finance at SJVN Ltd, and Sh. Ajay Kumar Singh, CEO of SGEL, were present to mark the occasion.

As per the phased project plan, SGEL aims to commence delivery with 1,500 MW within two years. This initiative is aligned with SJVN's broader ambition to expand its renewable energy capacity to 25,000 MW by 2030 and 50,000 MW by 2040.

AM Green, supported by the founders of Greenko Group, aims to achieve a production capacity of 5 million tonnes per annum of green ammonia by 2030. This milestone will contribute significantly to India's National Green Hydrogen Mission and Europe's green hydrogen import targets for 2030.

Mahesh Kolli, Founder of Greenko Group & AM Green, expressed enthusiasm about the collaboration, stating, "We are delighted to partner with SJVN on one of the world?s largest carbon-free, renewable energy supply contracts. This partnership underscores AM Green?s leadership in the global clean energy transition while advancing India's role as a supplier of sustainable green molecules."

Ajay Singh, CEO of SJVN Green Energy, highlighted the strategic importance of the partnership, noting, "This collaboration with AM Green marks a pivotal moment for accelerating renewable energy development in India. It also signifies SJVN?s expansion into supplying power to private sector entities, in line with our ambitious capacity addition targets."

AM Green has recently secured strategic partnerships and investments, including with Gentari Sdn Bhd and Singapore's sovereign wealth fund, GIC. These moves are set to strengthen AM Green's position in the global green ammonia market, with plans underway for its first 2 MTPA green ammonia project.

This agreement not only propels India towards its renewable energy goals but also positions AM Green and SJVN Green Energy as key players in advancing industrial decarbonisation globally.

In a significant move towards bolstering India's renewable energy infrastructure, AM Green and SJVN Green Energy Limited (SGEL) have inked a Memorandum of Understanding (MoU) for the long-term supply and sourcing of renewable energy. Under this agreement, SGEL, a subsidiary of SJVN, will deliver approximately 4,500 MW of carbon-free energy derived from solar and wind sources to support AM Green?s upcoming green ammonia facilities. The MoU, formalized at a ceremony in New Delhi, outlines plans for integrating this renewable energy with pumped hydro storage solutions, ensuring a stable power supply for AM Green?s facilities. Senior officials including Sh. Akhileshwar Singh, Director of Finance at SJVN Ltd, and Sh. Ajay Kumar Singh, CEO of SGEL, were present to mark the occasion. As per the phased project plan, SGEL aims to commence delivery with 1,500 MW within two years. This initiative is aligned with SJVN's broader ambition to expand its renewable energy capacity to 25,000 MW by 2030 and 50,000 MW by 2040. AM Green, supported by the founders of Greenko Group, aims to achieve a production capacity of 5 million tonnes per annum of green ammonia by 2030. This milestone will contribute significantly to India's National Green Hydrogen Mission and Europe's green hydrogen import targets for 2030. Mahesh Kolli, Founder of Greenko Group & AM Green, expressed enthusiasm about the collaboration, stating, We are delighted to partner with SJVN on one of the world?s largest carbon-free, renewable energy supply contracts. This partnership underscores AM Green?s leadership in the global clean energy transition while advancing India's role as a supplier of sustainable green molecules. Ajay Singh, CEO of SJVN Green Energy, highlighted the strategic importance of the partnership, noting, This collaboration with AM Green marks a pivotal moment for accelerating renewable energy development in India. It also signifies SJVN?s expansion into supplying power to private sector entities, in line with our ambitious capacity addition targets. AM Green has recently secured strategic partnerships and investments, including with Gentari Sdn Bhd and Singapore's sovereign wealth fund, GIC. These moves are set to strengthen AM Green's position in the global green ammonia market, with plans underway for its first 2 MTPA green ammonia project. This agreement not only propels India towards its renewable energy goals but also positions AM Green and SJVN Green Energy as key players in advancing industrial decarbonisation globally.

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