NTPC’s green energy arm eyes USD 1.2bn from Indian IPO
Sep 19, 2024 11:52 CESTIndia’s AM Green has taken a final investment decision (FID) on one of the largest green ammonia projects in the world, a facility in India with a planned output of one million tonnes per year.
The project envisages the installation of a unit for the production of green hydrogen which will be converted into green ammonia, plus all associated balance of plant and infrastructure. It will feature pressurised alkaline electrolysers with a capacity of 1.3 GW to be supplied by John Cockerill.
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AM Green Ammonia BV has already secured the required 1,300 MW of round-the-clock carbon-free power enabled through 4,500 MW of solar and wind hybrid capacity in combination with 950 MW of pumped storage. Half of the energy volume needed has been contracted under a 25-year power purchase agreement (PPA) with NTPC, while the remaining will be supplied by one of the company’s major shareholders, Gentari.
The hydrogen-to-ammonia site will be located at an existing urea plant in Kakinada in the state of Andhra Pradesh which the company acquired earlier this year. It is expected to become operational in the second half of 2026.
Most of its output will be exported to European markets. The Kakinada facility has received preliminary certification from CertifHy, confirming its compliance with EU RFNBO standards for green ammonia, which include the principles of additionality and hourly matching of renewable energy sources.
AM Green has already attracted various off-takers, including Uniper, Yara and Keppel.
The Kakinada project is part of AM Green’s goal of achieving an annual production capacity of 5 million tonnes per year of green ammonia by 2030.
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