Gentari, the clean energy division of Malaysia’s Petronas and AM Green, set up by the founders of Indian renewable energy major Greenko, announced the signing of definitive agreements together with an affiliate of Singapore’s GIC to produce 5 million tons per annum (MTPA) of green ammonia by 2030 – equivalent to about 1 MTPA of green hydrogen.
The partnership will focus on the production of green ammonia across multiple locations in India, which is expected to accelerate efforts to achieve net zero targets in India as well as in OECD markets.
Green ammonia exports to OECD markets
Exports of green ammonia to key OECD markets, such as Germany, Japan, South Korea, as well as Singapore from this platform is expected to begin in late 2025.
The green ammonia will be produced by a unit of AM Green, known as AM Green Ammonia Holdings.
Post-investment from Gentari, GIC and AM Green, the unit will be a fully funded platform that will invest, in phases, in the Indian regions of Andhra Pradesh, Tamil Nadu, Gujarat, Karnataka, and Himachal Pradesh.
Anil Chalamalasetty, founder, Greenko Group and AM Green, said the company was delighted to partner with Gentari and GIC to venture into the global low-carbon green economy.
“This strategic partnership will work to accelerate net zero targets of various industries and several OECD economies,” he said.
The 5 MTPA of green ammonia – equivalent to about 1 MTPA of green hydrogen – represents a 5th of India’s target for green hydrogen production under the country’s National Green Hydrogen Mission, and 10 percent of Europe’s target for green hydrogen imports by 2030.
Achieving this scale of production will place the new venture among the world’s pioneers in large-scale and cost-competitive green ammonia production, the company said.
AM Green will also produce green molecules such as green methanol, green caustic soda, green chlorine, biofuels and various downstream high-value green chemicals under its AM Green Molecules subsidiary.
In addition, AM Green will also house a joint venture with John Cockerill of Belgium to manufacture electrolysers in its AM Green Technology and Solutions subsidiary, capable of supplying about 6.5 GWs of electrolysers to AM Green Ammonia by 2030.
The completion of the transaction is subject to fulfillment of relevant and customary condition precedents, the company said.
Citigroup Global Market India and Cyril Amarchand Mangaldas acted as the exclusive financial and legal advisors to AM Green for this transaction.
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