SJVN Green Energy Signs MoU with AM Green Ammonia...
SHIMLA: SJVN Green Energy Limited (SGEL) has signed a Memorandum of Understanding (MoU) with AM Green Ammonia (India) Pvt Ltd today.
The signing took place in Delhi, attended by SJVN Director (Finance) Akhileshwar Singh.
Ajay Singh, CEO of SGEL, and Bhuwan Chandra Tripathi, CEO of AM Green Ammonia, signed the MoU, with senior officials from SJVN, SGEL, and Greenko Group present.
AM Green Ammonia, a Greenko Group company, is developing a large-scale green ammonia platform in Kakinada, Andhra Pradesh.
The project aims to produce 1 million tons per year initially, expanding to 5 million tons annually by 2030.
Under the MoU, SGEL will supply renewable energy for the project. SGEL plans to develop 4,500 MW of renewable energy projects, including 2,500-3,000 MW of solar and 1,500-2,000 MW of wind, to provide about 11,500 million units of power annually.
Both parties will explore innovative commercial models to ensure competitive tariffs, including dollar-denominated rates. A definitive agreement will be formalized soon.
This marks SGEL's entry into the commercial and industrial segment, with a current renewable portfolio of about 7.2 GW at various development stages.