MoU signed between SGEL and AM Green Ammonia for Green Ammonia, renewable energy will be supplied on long term basis for Green Ammonia plants
MoU signed between SGEL and AM Green Ammonia for Green Ammonia
Shimla, June 27: A Memorandum of Understanding (MoU) was signed between SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN and AM Green Ammonia (India) Pvt. Ltd. in the presence of Akhileshwar Singh, Director (Finance), SJVN at New Delhi.
Ajay Singh, CEO, SJVN Green Energy Limited (SGEL) and Bhuwan Chandra Tripathi, CEO, AM Green Ammonia (India) Private Limited signed the MoU.
Chief Financial Officer, SJVN Green Energy Limited (SGEL), AM Jha, General Manager (Finance), SJVN, Jitendra Yadav and other senior officials of SJVN/SGEL and Greenko Group were present on the occasion.
AM Ammonia (India) Private Limited, a Greenko Group company, is developing one of the world’s largest Green Ammonia platforms in India at Kakinada, Andhra Pradesh.
The world’s largest green ammonia platform, to be developed at Kakinada in the Indian state of Andhra Pradesh, will be developed in two phases, starting with a capacity of one million tonnes per annum (MTPA) and expanding to five million tonnes per annum (MTPA) – equivalent to one million tonnes of hydrogen per annum – by 2030.
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Under this MoU, both the companies have agreed to collaborate with each other to supply/source renewable energy on a long term basis for these Green Ammonia Plants on mutually agreed terms and conditions.
SJVN Green Energy Limited (SGEL) will explore the possibility of setting up 4,500 MW renewable energy projects comprising 2500-3000 MW solar projects and 1500-2000 MW wind projects in India in three phases, ensuring supply of 11,500 million units on an annual basis.
SJVN Green Energy Limited (SGEL) and AM Ammonia (India) Private Limited have agreed to explore innovative commercial frameworks to ensure competitive tariffs and adequate returns to SGEL, including the offer of tariffs in dollar denomination.It has also been agreed that the two companies will soon sign a definitive agreement to formalise the future course of action.
SJVN Green Energy Limited (SGEL) currently has a renewable energy portfolio of around 7.2 GW under various stages of development i.e. operational, construction and pre-construction.
This MoU paves the way for SJVN Green Energy Limited’s (SGEL) first venture into the commercial and industrial sector.
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