GAIL, AM Green sign MoU to jointly develop renewable energy up to 2.5 GW & green chemical projects

 GAIL, AM Green sign MoU to jointly develop renewable energy up to 2.5 GW & green chemical projects

GAIL, AM Green sign MoU to jointly develop renewable energy up to 2.5 GW & green chemical projects

In line with the MoU, both the companies envisage to undertake studies for long-term supply of around 350 KTA CO2 generated by GAIL in its gas processing plants to produce eMethanol.

Written by FE Business

October 4, 2024 17:21 IST

GAIL, AM Green, MoU, renewable energy, green chemical projects, eMethanol production, carbon emissions, circular economy, sustainable energy

GAIL (India) and AM Green BV (AMG) signed a MoU to explore projects aimed at advancing sustainable energy solutions in India. (Photo: Reuters)

GAIL (India) Limited and AM Green BV (AMG) on Friday signed a Memorandum of Understanding (MoU) to explore projects aimed at advancing sustainable energy solutions in India. In a regulatory filing, the company said that the partnership focuses on the long-term supply of carbon dioxide (CO2) for eMethanol production and the exploration of hybrid renewable energy projects across India. 

The MoU was signed in presence of Rajeev Singhal, Director (Business Development), GAIL, by Sumit Kishore, Executive Director (Business Development and Exploration & Production), GAIL and Mahesh Kolli, Group President, AM Green. 

short article insertIn line with the MoU, both the companies envisage to undertake studies for long-term supply of around 350 KTA CO2 generated by GAIL in its gas processing plants to produce eMethanol, that can reduce carbon emissions and promote a circular economy. According to the terms of the MoU, GAIL shall also have an equity option to invest in the proposed eMethanol project. 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.

Rajeev Singhal, Director (Business Development), GAIL, said, “The signing of this MOU with AM Green underscores our commitment to pioneering sustainable energy solutions. 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 advancing India’s transition to a greener energy landscape. The partnership between GAIL and AMG is set to augment technological innovation in India while also promoting economic growth and environmental sustainability.” 

Mahesh Kolli, Group President of AM Green, said, “We are delighted to partner with GAIL 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 decarbonization globally. The production of green methanol shall also help in decarbonization of hard to abate sectors like shipping, steel, cement etc.”