New Delhi – In a monumental step towards advancing India’s renewable energy landscape, SJVN Green Energy Limited (SGEL), a wholly-owned subsidiary of SJVN, has entered into a Memorandum of Understanding (MoU) with AM Green Ammonia (India) Private Limited. The agreement, signed today in Delhi by Ajay Singh, CEO of SGEL, and Bhuwan Chandra Tripathi, CEO of AM Green Ammonia, marks a significant collaboration to foster the development of green hydrogen and ammonia.
AM Green Ammonia is building one of the world’s largest Green Ammonia Platforms in Kakinada, Andhra Pradesh. The project will be developed in two phases, initially with a capacity of one million tons per annum (MTPA) and eventually expanding to five million tons per annum by 2030. This ambitious expansion equates to producing one million tonnes per annum of hydrogen, positioning India as a global leader in green energy production.
Under the MoU, SGEL and AM Green Ammonia will collaborate on the supply and sourcing of renewable energy on a long-term basis for these Green Ammonia plants. SGEL plans to establish 4,500 MW of renewable energy projects across India, including 2,500-3,000 MW of solar projects and 1,500-2,000 MW of wind projects over three phases. These initiatives are expected to generate approximately 11,500 million units of renewable energy annually, significantly contributing to India’s green energy capacity.
The partnership will also explore innovative commercial frameworks to ensure competitive tariffs and adequate returns for SGEL. This includes the possibility of offering dollar-denominated tariffs, making the projects financially viable and attractive. A definitive agreement outlining the detailed terms and conditions will be finalized shortly, setting the stage for the next phase of action.
SGEL’s renewable energy portfolio currently stands at around 7.2 GW, encompassing various stages of development, including operation, construction, and pre-construction. This MoU marks SGEL’s inaugural venture into the Commercial & Industrial Segment, showcasing its commitment to expanding its reach and impact within the renewable energy sector.
