SJVN Green Energy and AM Green Ink Landmark Renewable Energy Supply Agreement

AM Green has signed an agreement with SJVN Green Energy Limited to provide one of the world's largest long-term renewable energy contracts without carbon. Under the agreement signed on June 26, 2024, SJVN will supply approximately 4,500 MW of carbon-free energy to AM Green's future nitrogen green ammonia facilities. SJVN will generate this capacity through solar and wind power, which will be integrated into an AM Green pumped hydro system, ensuring a steady supply of green energy for AM Green's sites. This initiative supports SJVN's expansion of renewable energy in India, contributing to its goal of 25,000 MW by 2030 and 50,000 MW by 2040.

Introduction:
In a significant stride towards decarbonizing the Indian industrial sector, AM Green and SJVN Green Energy Limited (SGEL) have entered into a long-term renewable energy supply agreement. This collaboration will see SJVN providing approximately 4,500 Megawatts (MW) of carbon-free energy to AM Green's future nitrogen green ammonia facilities [1].

Details of the Agreement:
The agreement, signed on June 26, 2024, in New Delhi, marks one of the world's largest carbon-free renewable energy supply contracts. SGEL will generate this capacity through solar and wind power, which will then be integrated into AM Green's pumped hydro system to ensure a steady supply of green energy [1]. The first phase of the project is expected to deliver 1,500 MW within two years [1].

Impact on SJVN's Renewable Energy Expansion:
This initiative supports SJVN's expansion of renewable energy in India, contributing to its goal of 25,000 MW by 2030 and 50,000 MW by 2040 [1]. SJVN plans to execute the project in three phases, with the first phase delivering 1,500 MW within two years [1].

AM Green's Future Plans and Contribution to India's Renewable Energy Targets:
AM Green, promoted by the founders of Greenko, aims to produce 5 million tons per annum (MTPA) of green ammonia by 2030, which is equivalent to about 1 MTPA of green hydrogen [1]. This represents a fifth of India's target for green hydrogen production under the country's National Green Hydrogen Mission and 10% of Europe's target for green hydrogen imports by 2030 [1].

Quotes from Key Personnel:
Mahesh Kolli, Founder, Greenko Group & AM Green, stated, "We are delighted to partner with SJVN on one of the world's largest carbon-free, renewable energy supply contracts. This partnership demonstrates AM Green's emerging leadership position as a global clean energy transition solutions platform while contributing to India's ambition of emerging as an exporter of reliable, sustainable and lowest-cost green molecules and its derivatives accelerating industrial decarbonisation globally" [1].

Ajay Singh, CEO, SJVN Green, expressed his elation, stating, "We are elated to embark on this collaboration with AM Green, as it holds tremendous potential for accelerating the development of renewable assets in India. The project also marks SJVN's foray into supplying power to private sector entities. With our ambitious capacity addition targets, SJVN is actively pursuing partnerships with leading players in the renewable energy sector to achieve its goals" [1].

References:
[1] Business Wire. (2024, July 1). AM-Green and SJVN to execute one of the world's largest carbon-free, renewable energy supply contracts. Business Wire. https://www.businesswire.com/news/home/20240701786472/en/