BASF and AM Green B.V. have entered a memorandum of understanding (MoU) to jointly evaluate and develop business opportunities for low-carbon chemicals produced exclusively with renewable energy, and the corresponding value chains in India, according to BASF’s release.
Under the MoU, BASF and AM Green intend to conduct feasibility studies on low-carbon chemicals production in India including a joint evaluation of potential technologies. The cooperation also includes a non-binding letter of intent for the offtake of 100,000 tons annually of ammonia produced exclusively with renewable energy including energy from pumped storage projects from AM Green’s plants in different locations in India.
This ammonia will meet EU standards for renewable fuels of non-biological origin (RFNBO) as defined in the Renewable Energy Directive (RED III). Some of AM Green’s facilities have already been pre-certified for RFNBO compliance through the CertifHyTM voluntary certification scheme. Pre-certification for AM Green’s other facilities is currently underway.
AM Green, incorporated by the founders of Hyderabad based Greenko Group, Anil Chalamalasetty and Mahesh Kolli, is one of India’s leading energy transition solutions providers. AM Green’s production of green ammonia across multiple locations in India will accelerate its goal to reach 5 MTPA of green ammonia capacity by 2030, supporting its efforts to achieve net zero targets both in India and OECD markets. This output will be equivalent to approximately 1 MTPA of green hydrogen, accounting for one-fifth of India’s target for green hydrogen production under the National Green Hydrogen Mission and 10 percent of Europe’s target for green hydrogen imports. AM Green is developing production capabilities for other green molecules like green caustic soda, e-methanol, olefins & biofuels for decarbonization in hard to abate industries.
Source: Port News
