October 07, 2024 [Renewables Now]- State-owned natural gas processor and distributor GAIL India Ltd and AM Green BV (AMG), a subsidiary of the AM Green Group promoted by Greenko founders, have agreed to partner in the area of renewable energy and e-methanol production.
Under a memorandum of understanding, announced on Friday, the parties will explore the development of solar-wind hybrid renewable projects up to 2.5 GW across India. These projects together with Greenko’s upcoming pumped storage projects will supply round-the-clock power to end users and a proposed e-methanol project. The companies will also conduct studies for long-term supply of carbon dioxide (CO2) from GAIL’s gas processing plants to produce e-methanol. GAIL will have an equity option to invest in the proposed e-methanol project.
Mahesh Kolli, Group President of AM Green, described the partnership as one of the world’s largest carbon-free, renewable energy supply contracts.
AM Green targets 5 million tonnes per year of green ammonia capacity in India by 2030, which is equivalent to about 1 million tonnes per year of green hydrogen, or 10% of Europe’s target for green hydrogen imports by 2030. AM Green also seeks to produce high-value green products that can be used to decarbonise aviation, chemicals and other industrial sectors.
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