SJVN, through its wholly owned subsidiary SJVN Green Energy Limited (SGEL), signed a Memorandum of Understanding (MoU) with AM Green Ammonia (India) Private Limited in the presence of Sh. Akhileshwar Singh, Director (Finance) of SJVN, in Delhi today.
The MoU was executed by Sh. Ajay Singh, CEO of SGEL, Sh. Bhuwan Chandra Tripathi, CEO of AM Green Ammonia, along with Sh. A M Jha, CFO of SGEL, Sh. Jitendra Yadav, GM (F) of SJVN, and other senior officials from SJVN/SGEL and Greenko Group.
AM Ammonia (India) Private Limited, a company under Greenko Group, is developing one of the world’s largest Green Ammonia Platforms in Kakinada, Andhra Pradesh. The platform will be developed in two phases, starting with a capacity of one million tons per annum (MTPA) and ramping up to five million tons per annum by 2030—equivalent to one million tonnes per annum of hydrogen.
Under this MoU, the parties have agreed to cooperate in the supply/sourcing of renewable energy on a long-term basis for these Green Ammonia Plants, based on mutually agreed terms and conditions.
SGEL and AM Ammonia have agreed to explore an innovative commercial framework aimed at ensuring competitive tariffs and providing adequate returns to SGEL, including the possibility of offering tariffs denominated in dollars. They have agreed to proceed promptly towards entering into a definitive agreement to formalize the next steps.