Shimla, June 27
SJVN has signed a Memorandum of Understanding (MoU) with AM Green Ammonia (India) Private Limited through its wholly-owned subsidiary SJVN Green Energy Limited (SGEL).
To explore innovative frameworks
SGEL and AM Ammonia have agreed to explore innovative commercial framework to ensure competitive tariff and adequacy returns to SGEL, including offering dollar denominated tariff.
The MoU was signed in New Delhi by SGEL CEO Ajay Singh and AM Green Ammonia CEO Bhuwan Chandra Tripathi, in the presence of 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 at Kakinada, Andhra Pradesh. The platforms will be developed in two phases, starting with a capacity of 1 million tons per annum (MTPA) and ramping it to 5 million tons per annum by 2030.
As per the MoU, the parties have agreed to cooperate to supply/source renewable energy on a long term basis for the green ammonia plants.
SGEL will explore setting up 4,500 MW renewable energy projects in India, including 2,500-3,000 MW of solar projects and 1,500-2,000 MW of wind projects in three phases, which would ensure a supply of about 11,500 million units on an annual basis.
SGEL and AM Ammonia have agreed to explore innovative commercial framework to ensure competitive tariff and adequacy returns to SGEL, including offering dollar denominated tariff. It has been agreed that the parties shall enter into a definitive agreement shortly to formalise further course of action.
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