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GAIL and AM Green sign MoU for jointly developing renewable energy and green chemicals
4th October 2024
GAIL (India) Limited and AM Green B.V. (AMG) have signed a Memorandum of Understanding (MoU) to explore projects aimed at advancing sustainable energy solutions in India. The partnership focuses on the long-term supply of carbon dioxide (CO2) for eMethanol production and the exploration of hybrid renewable energy project across India
In line with the MoU, both the parties envisage to undertake 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
GAIL shall 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
Further, both the parties envision to jointly explore setting up of solar/wind hybrid renewable projects up to 2.5 GW across India. The hybrid solar/wind projects combined with Greenko’s upcoming Pump Storage Projects are poised to supply Round The Clock power to the end users including the proposed eMethanol project
About GAIL: GAIL, a Maharatna Central Public Sector Enterprise, is India’s leading natural gas transmission and distribution company with gas transmission & distribution pipelines, processing and petrochemicals plants besides interest in upstream oil & gas blocks and LNG regasification terminals in India. GAIL is dedicated to enhancing the nation’s energy infrastructure and promoting sustainable development through various initiatives in natural gas, petrochemicals, and renewable energy
About AGM: AMG is a subsidiary of the AM Green Group promoted by Greenko founders. AMG's ammonia manufacturing facilities will be powered entirely by carbon-free energy sources such as solar, wind, and hydroelectric power. The produced ammonia will meet EU standards for Renewable Fuels of Non-Biological Origin (RFNBO) as defined in the Renewable Energy Directive (RED III). AMG’s facility in Kakinada has already been pre-certified for RFNBO compliance