State-owned SJVN through its wholly owned subsidiary SJVN Green Energy Limited (SGEL) signed an MoU with AM Green Ammonia (India) Private Limited with an objective of advancing India’s green hydrogen landscape. The agreement was signed in the Akhileshwar Singh, Director (Finance), SJVN in New Delhi today.
The MoU was inked by Ajay Singh, CEO, SGEL and Bhuwan Chandra Tripathi, CEO AM Green Ammonia and AM Jha, CFO, SGEL, Jitendra Yadav, GM (F), SJVN and other senior officials from SJVN/SGEL and Greenko Group were present on the occasion.
The AM Ammonia (India) Private Limited, a company under Greenko Group is developing one of the world’s largest Green Ammonia Platforms at Kakinada, Andhra Pradesh. The platforms shall be developed in two phases starting with a capacity of one million tons per annum (MTPA) and ramping capacity to five million tons per annum by 2030 – equivalent of one million tonnes per annum of hydrogen.
Under the agreement, the parties have agreed to cooperate with each other for supply/sourcing of renewable energy on long term basis for these Green Ammonia Plants on a mutually agreed terms and conditions.
SJVN will explore setting-up of 4,500 MW renewable energy projects in India including 2500-3000 MW of Solar Projects and 1500-2000 MW of Wind Projects over three phases which shall ensure a supply of about 11,500 million units on annual basis.
SJVN and AM Ammonia have agreed to explore innovative commercial framework to ensure competitive tariff and adequate returns to SGEL including offering dollar denominated tariff. It has been agreed that the parties shall enter into a definitive agreement shortly so as to formalize the further course of action.
SJVN green energy firm is currently handling a RE Portfolio of about 7.2 GW under various stages of development i.e. Operation, Construction & Pre Construction. This MoU paves way towards SGEL’s first venture into Commercial & Industrial Segment.
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