SEGL partners with AM Ammonia for major renewable energy projects

New Delhi: SJVN Green Energy Limited (SGEL), a subsidiary of SJVN Limited, has signed a memorandum of understanding (MoU) with AM Green Ammonia (India) Private Limited on Wednesday. The signing ceremony took place in Delhi and was attended by SJVN's Director (Finance) Akhileshwar Singh along with other senior officials.

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The MoU has been signed by SGEL's CEO Ajay Singh and AM Green Ammonia's CEO Bhuwan Chandra Tripathi.

AM Green Ammonia, a company under the Greenko Group, is set to develop one of the world’s largest Green Ammonia Platforms in Kakinada, Andhra Pradesh. The project will be developed in two phases, starting with a capacity of one million tons per annum (MTPA) and increasing to five million tons per annum by 2030, equivalent to one million tons per annum of hydrogen.

Under the agreement, SGEL will explore the development of 4,500 MW of renewable energy projects in India, including 2,500-3,000 MW of solar projects and 1,500 - 2,000 MW of wind projects, over three phases. This initiative aims to ensure an annual supply of approximately 11,500 million units of renewable energy.

The collaboration between SGEL and AM Green Ammonia includes the exploration of innovative commercial frameworks to ensure competitive tariffs and adequate returns. This could involve offering dollar-denominated tariffs. Both parties have agreed to enter into a definitive agreement soon to formalize their cooperation.

SGEL is currently managing a renewable energy portfolio of about 7.2 GW across various stages of development, including operation, construction, and pre-construction. This MoU marks SGEL’s first venture into the commercial and industrial segment, paving the way for significant advancements in India’s renewable energy landscape.

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