State-owned GAIL India Ltd and AM Green BV (AMG), a subsidiary of the AM Green Group founded by Greenko's promoters, have announced a partnership in the renewable energy and e-methanol sectors.
The two companies have signed a memorandum of understanding (MoU) to jointly develop solar-wind hybrid renewable energy projects across India with a capacity of up to 2.5 GW.
These projects will provide round-the-clock renewable energy, supported by Greenko's pumped storage systems, to power a proposed e-methanol plant.
The companies will also explore long-term carbon dioxide supply from GAIL's gas processing plants for e-methanol production. As part of the agreement, GAIL will have the option to take an equity stake in the e-methanol venture.
Mahesh Kolli, Group President of AM Green, highlighted the partnership as one of the largest carbon-free renewable energy supply agreements globally. AM Green has set ambitious goals to achieve 5 million tonnes of green ammonia capacity in India by 2030, which translates to roughly 1 million tonnes of green hydrogen annually, contributing to the decarbonization of sectors such as aviation, chemicals, and heavy industry.
