HYDERABAD: AM Green BV (AMG) and Maharatna public sector giant GAIL (India) Limited have joined hands to explore the setting up of solar and wind hybrid renewable energy projects of up to 2.5GW across India.
The partnership will also focus on the long-term supply of carbon dioxide (CO2) for hybrid renewable energy projects and eMethanol production and exploration across India.
The two players plan to take up studies for long-term supply of around 350 KTA CO2 generated by GAIL in its gas processing plants to produce eMethanol, an environmentally friendly fuel that can reduce carbon emissions and promote a circular economy, AM Green said on Friday.
GAIL will also have an equity option to invest in the proposed eMethanol project, ensuring a strategic partnership that supports both companies’ objectives in promoting sustainable energy solutions, it added.
The hybrid solar and wind projects combined with Greenko’s upcoming pump storage projects are poised to supply round-the-clock power to end users, including the proposed eMethanol project, the Hyderabad-based player said.
The two players signed a memorandum of understanding (MoU) with GAIL executive director for business development and exploration & production Sumit Kishore and AM Green group president Mahesh Kolli inking the pact in the presence of GAIL director for business development Rajeev Singhal.
AM Green group president Mahesh Kolli said the partnership with GAIL on one of the world’s largest carbon-free, renewable energy supply contracts 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.
The production of green methanol will also help in decarbonisation of hard to abate sectors like shipping, steel and cement, among others, he added.
GAIL director for business development Rajeev Singhal said: “By facilitating the supply of CO2 for eMethanol production, we are taking a proactive approach to reduce carbon emissions and support alternative fuel development. Development of renewable energy projects will support reducing the carbon footprint of the country and advance India’s transition to a greener energy landscape.”
AM Green said its production of green ammonia across multiple locations in India will accelerate its target to achieve 5 MTPA of green ammonia capacity by 2030, and its efforts to achieve net zero targets in India as well as in OECD markets.
“This will be equivalent to about 1 MTPA of green hydrogen, representing 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.”
AM Green also plans to establish large-scale bio refineries that utilize multiple feedstocks and produce high-value green products enabling global decarbonization in aviation, fuels, chemicals and other industrial sectors.
