SJVN Green Energy Limited (SGEL), a subsidiary of SJVN (formerly Satluj Jal Vidyut Nigam), has entered into a Memorandum of Understanding (MoU) with AM Green (formerly Greenko ZeroC) on a long-term agreement, for the supply of 4,500 megawatts (MW) of carbon-free energy to AM Green’s proposed green ammonia facility in Kakinada. This could be dubbed as one of the largest carbon-free renewable energy supply contracts.
The SGEL will set up the capacity through solar and wind power, and AM Green will integrate it with pumped hydro storage to guarantee a steady supply of green energy to AM Green facility in Kakinada, according to an official release. On June 26, the pact was signed in New Delhi by SJVN Limited Director of Finance Akhileshwar Singh, Chief Executive Officer Ajay Kumar Singh and AM Green Senior Advisor B.C. Tripathi.
The SJVN is planning to execute the project in three phases and the first phase would deliver 1,500 MW within two years. AM Green, promoted by the founders of Greenko, targets to produce five million tonnes per annum (mtpa) of green ammonia by 2030, equivalent to about one mtpa of green hydrogen, according to the release.
Greenko Group and AM Green founder Mahesh Kolli has said in an official release, “The pact signed with SJVN is one of the world’s largest carbon-free, renewable energy supply contracts.” SJVN Green Chief Executive Officer Ajay Singh said, “The agreement marks SJVN’s foray into supplying power to private sector entities. With our ambitious capacity targets, SJVN is actively pursuing opportunities across the spectrum and is keen to take forward this arrangement with AM Green.”
Published - July 03, 2024 07:35 pm IST
