AM Green MoU with SJVN Green Energy
As a part of the agreement, the SGEL will supply 4,500 MW of carbon-free energy to AM Green’s upcoming green ammonia facilities and set up this capacity through solar and wind power, while AM Green will integrate it with pumped hydro storage to ensure a steady supply of green energy to AM Green facilities, a press release said.
Hyderabad: AM Green, incorporated by the founders of Hyderabad-based Greenko Group, on Monday has announced MoU with SJVN Green Energy Limited (SGEL), for a long-term agreement to supply and sourcing of renewable energy.
As a part of the agreement, the SGEL will supply 4,500 MW of carbon-free energy to AM Green’s upcoming green ammonia facilities and set up this capacity through solar and wind power, while AM Green will integrate it with pumped hydro storage to ensure a steady supply of green energy to AM Green facilities, a press release said.
SJVN plans to execute the project in three phases, with the first phase delivering 1,500 MW within two years. This initiative is a major milestone for SJVN’s renewable energy expansion in India, supporting its goal of reaching 25,000 MW by 2030 and 50,000 MW by 2040.
Mahesh Kolli, Founder, Greenko Group and AM Green says “This partnership demonstrates AM Green’s emerging leadership position as a global clean energy transition solutions platform.”
Ajay Singh, CEO, SJVN Green, said that the project marks SJVN’s foray into supplying power to private sector entities. “With our ambitious capacity addition targets, SJVN is actively pursuing opportunities across the spectrum and is keen to take forward this arrangement with AM Green,” he said.
The agreement was signed in the presence of Akhileshwar Singh, Director of Finance, SJVN Lt, Ajay Kumar Singh, CEO, A M Jha, CFO, SGEL, SGEL, Jitendra Yadhav, HOD (F&A), SJVN Ltd, B C Tripathi, Senior Advisor, AM Green, and Dharampal Reddy, AVP, AM Green.
