GIC and Gentari, the clean energy division of Malaysia’s Petronas are backing India’s AM Green, to produce 5m tonnes per annum (MTPA) of green ammonia for export to OECD countries by 2030.
The value of the investment was not disclosed, but is reported to be worth around US$1.75bn (€1.6bn) – with the bulk of the investment from the Malaysian company.
Green ammonia will be produced by a unit of AM Green, known as AM Green Ammonia, at multiple locations in India.
The partners expect to begin exports of green ammonia to markets, including Germany, Japan, South Korea, and Singapore from late 2025.
Post-investment from Gentari, GIC, and AM Green, the unit will be a fully funded platform that will invest, in phases, in the Indian regions of Andhra Pradesh, Tamil Nadu, Gujarat, Karnataka, and Himachal Pradesh.
The output of green ammonia will be equivalent to about 1 MTPA of green hydrogen, representing a fifth of India’s target for green hydrogen production under the country’s National Green Hydrogen Mission and 10% of Europe’s target for green hydrogen imports by 2030.
Anil Chalamalasetty, founder of Greenko Group and AM Green, said: “This strategic partnership will work to accelerate net zero targets of various industries and several OECD economies.
“Continuous focus on innovation combined with execution will ensure our venture, AM Green, remains ahead of others in becoming a global clean energy-transition solutions platform”.
In addition, AM Green will also house a joint venture with John Cockerill of Belgium to manufacture electrolysers in its AM Green Technology & Solutions subsidiary; supplying about 6.5GWs of electrolysers to AM Green Ammonia by 2030.
Sushil Purohit, chief executive officer of Gentari, said: “As Gentari expands our portfolio of clean energy solutions in Malaysia, Asia Pacific and beyond, we believe in the critical importance of industry-level collaborations that combine complementary strengths and unlock synergies.”
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