SJVN inks an MOU with AM Ammonia to supply renewable energy
SGEL will explore setting-up of 4,500 MW renewable energy projects in India including 2500 – 3000 MW of Solar Projects and 1500 – 2000 MW of Wind Projects over three phases which shall ensure a supply of about 11,500 million units on annual basis.
![SJVN inks an MOU with AM Ammonia to supply renewable energy](https://www.psuconnect.in/sdsdsd/SJVN_inks_an_MOU_with_AM_Ammonia.jpg)
SHIMLA: SJVN through its wholly owned subsidiary SJVN Green Energy Limited (SGEL) signed a Memorandum of Understanding (MoU) with AM Green Ammonia (India) Private Limited in the August presence of Sh. Akhileshwar Singh, Director (Finance), SJVN at Delhi, today.
The MoU was signed by Sh. Ajay Singh, CEO, SGEL and Sh. Bhuwan Chandra Tripathi, CEO AM Green Ammonia and Sh. AM Jha, CFO, SGEL, Sh. Jitendra Yadav, GM (F), SJVN and other senior officials from SJVN/SGEL and Greenko Group were present on the occasion.
The AM Ammonia (India) Private Limited, a company under Greenko Group is developing one of the world's largest Green Ammonia Platforms at Kakinada, Andhra Pradesh. The platforms shall be developed in two phases starting with a capacity of one million tons per annum (MTPA) and ramping capacity to five million tons per annum by 2030 – equivalent of one million tonnes per annum of hydrogen.
Read Also : Pradipta Kumar Mishra takes over as Regional ED (WR-II & USSC) of NTPC Nava RaipurUnder this MoU the parties have agreed to cooperate with each other for supply/ sourcing of renewable energy on long term basis for these Green Ammonia Plants on a mutually agreed terms and conditions. SGEL will explore setting-up of 4,500 MW renewable energy projects in India including 2500 – 3000 MW of Solar Projects and 1500 – 2000 MW of Wind Projects over three phases which shall ensure a supply of about 11,500 million units on annual basis.
Read Also : SECL's coal production crosses 41 million tonnes in the first quarter of the financial yearSGEL and AM Ammonia have agreed to explore innovative commercial framework to ensure competitive tariff and adequacy returns to SGEL including offering dollar denominated tariff. It has been agreed that the parties shall enter into a definitive agreement shortly so as to formalize the further course of action.
SGEL is currently handling a RE Portfolio of about 7.2 GW under various stages of development ie, Operation, Construction & Pre-Construction. This MoU paves way towards SGEL's first venture into Commercial & Industrial Segment.
Read Also : Coal India’s production grows 8% to 189.3 MTs in Q1FY25News Must Read
- IREDA's Impressive Q1 FY25 Performance
- NTPC achieves 17.15% surge in Coal Despatch and 15% Growth in Coal Production in Q1 FY25
- NTPC achieves 113.87 BU generation in Q1 FY25
- CONCOR and ITE Japan sign MoU for green cold chain logistics solution
- NTPC Hiring for Associate Position: Last Date of Applying Today
- REC Limited Board Approves Two Projects
- BEL receives orders worth Rs.3,172 Crores
- BPCL and UPSRTC Sign MoU to Install Water Coolers at UPSRTC Bus Stands across UP
- Bank of India receives Top Honours at PFRDA
- RVNL to Form Subsidiary Company in Dubai