Gentari, AM Green to jointly invest in green ammonia platform
30 Oct 2023
Gentari Sdn Bhd, via wholly owned subsidiary Gentari International Renewables Pte Ltd, has entered into an agreement with AM Green BV to jointly invest, in phases, into a green ammonia platform, AM Green Ammonia Holdings BV.
AMG Ammonia was established by the founders of Greenko, one of India’s leading renewable energy companies. An affiliate of Singapore investment entity GIC is also an investor in AMG Ammonia.
AMG Ammonia is projected to produce five million tonnes per annum (MTPA) of green ammonia using round-the-clock renewable energy by 2030. The platform aims to deliver green ammonia, as it is currently the most mature and stable form of transporting hydrogen.
The five MTPA of green ammonia produced is equivalent to about one MTPA of green hydrogen, and would represent 20% of India’s target for green hydrogen production by 2030, or 10% of Europe’s target for imported renewable hydrogen.
This size and capacity will place AMG Ammonia among the world’s pioneers in large-scale and cost-competitive green ammonia production. The first export of green ammonia from this platform is targeted by late 2025, and aims to serve key OECD markets, such as Germany, Japan and South Korea, as well as Singapore.
Gentari and AM Green both bring complementary capabilities across the green hydrogen value chain, including renewable energy, electrolysers, and ammonia production and marketing capabilities.
The parties will mutually invest in AMG Ammonia, demonstrating full commitment to realise the platform’s potential and expand their presence in the Asia-Pacific and Europe.
Post-investment from Gentari, AM Green and GIC, AMG Ammonia will be a fully funded platform for the targetted ammonia production plan.
Gentari CEO Sushil Purohit said, “As Gentari expands our portfolio of clean energy solutions in Malaysia, Asia Pacific and beyond, we believe in the critical importance of industry-level collaborations that combine complementary strengths and unlock synergies. This partnership with AM Green and GIC is a testament to our commitment in accelerating green hydrogen adoption globally, to make an impact in the pursuit of a net zero future.”
Greenko Group and AM Green founder Anil Chalamalasetty said, “We are delighted to partner with Gentari and GIC, to venture into the global low carbon green economy.”
Source: The Sun Daily