A significant milestone for AM Green and India’s renewable molecules journey!
AM Green has been selected as the sole winner of the Asian lot in the H2Global auction, which is run by HINT.CO GmbH and funded by the German government, securing a long-term purchase agreement for the supply of RFNBO-compliant renewable ammonia to Germany.
The award follows a competitive bidding process in which AM Green’s offer was ranked first among the submissions received. Over a period of 10 years, Hintco will purchase ammonia from AM Green for a minimum value of EUR 585 million. Hintco may purchase additional quoted volumes from AM Green using proceeds generated from the resale of green ammonia in the European market.
The ammonia will be produced at AM Green’s Kakinada project (Phase 2) in Andhra Pradesh, supported by a unique round-the-clock renewable power architecture backed by pumped-hydro storage, in line with EU requirements.
With first deliveries to Germany expected from 2029, this milestone strengthens AM Green’s position in developing large-scale renewable ammonia supply from India for global markets and demonstrates the potential to deliver optimally priced green molecules at an industrial scale. Through H2Global, Germany is helping build clean industries abroad while securing a reliable supply of renewable hydrogen-based products at home.
The achievement marks an important step in building global supply chains for renewable molecules and advancing the decarbonisation of hard-to-abate industries.
Read more, https://lnkd.in/drAaKtRY
AMGreen Hintco H2Global RenewableAmmonia GreenAmmonia GreenHydrogen RFNBO EnergyTransition Decarbonisation
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