Malaysia’s Petronas’ clean energy division, Gentari, and AM Green, set up by Greenko’s founders, have signed definitive agreements with an affiliate of GIC to produce 5 million tons per annum (MTPA) of green ammonia by 2030. The partnership aims to produce green ammonia across multiple locations in India, which is expected to help India accelerate its efforts to achieve net-zero targets and OECD markets. The production of green ammonia is expected to begin in late 2025 and be supplied to Germany, Japan, South Korea, and Singapore.
The green ammonia will be produced by AM Green Ammonia Holdings, a unit of AM Green. Gentari, GIC, and AM Green will invest in the Indian regions of Andhra Pradesh, Tamil Nadu, Gujarat, Karnataka, and Himachal Pradesh to produce the green ammonia. The production of 5 MTPA of green ammonia will be equivalent to about 1 MTPA of green hydrogen, placing the company among the world’s pioneers in low-cost and large-scale green ammonia production.
The production of green ammonia will be supported by renewable energy supplied via offtake agreements with reputed counterparties and electrolysers manufactured by AM Green Technology & Solutions. AM Green plans to produce other green molecules under its AM Green Molecules subsidiary, including green methanol, green caustic soda, green chlorine, biofuels, and various downstream high-value green chemicals. The company will also house a joint venture with John Cockerill of Belgium to produce electrolysers in its AM Green Technology & Solutions subsidiary.
Anil Chalamalasetty, Founder of Greenko Group & AM Green said: “We are delighted to partner with Gentari and GIC, to venture into the global low carbon green economy. The commitment from Gentari and GIC underpins Prime Minister Modi’s vision for India to become a leader in global energy transition. This strategic partnership will work to accelerate net zero targets of various industries and several OECD economies. Continuous focus on innovation combined with execution will ensure our venture, AM Green, remains ahead of others in becoming a global clean energy transition solutions platform”.
The production of green ammonia by AM Green is part of its effort to claim a position at the forefront of large-scale competitive solutions to counterbalance industries and economies worldwide. The completion of the transaction is subject to fulfilling relevant and customary condition precedents, and Citigroup Global Market India Pvt. Ltd. and Cyril Amarchand Mangaldas acted as AM Green’s exclusive financial and legal advisors for this transaction.
