Singapore’s AM Holdings setting up 24 MW floating solar plant at Indian petrochemical arm

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Singapore-based diversified business group, AM International has laid the foundation for setting up a 24 MW floating solar power plant at group-owned company Southern Petrochemical Industries Corporation (SPIC) in Tamil Nadu. This floating solar power plant will be located on the large water reservoir inside SPIC’s Tuticorin plant premises. It will be set up by Greenam Energy (Greenam), the green energy arm of AM International. EDAC Engineering, a SPIC Group company, will undertake the construction.

Once the project is complete, it will supply electricity to SPIC, and the excess will be sold to the state power utilities. This will lead to significant energy costs savings and reduce the dependence of the company on its external power suppliers.

Speaking on the occasion, Ashwin Muthiah, founder Chairman, AM International Group, Singapore, said, “This project, one of the latest floating solar power plants in India, is a milestone in our attempts to promote the usage of renewable energy sources. The floating solar power plant will be one of the country’s most significant projects with technology comparable to the best in the world.”

The project is a one-of-its-kind and one of India’s first floating renewable energy initiatives to optimise energy production in industrial plants.

As no land is required for construction, floating solar plants are gaining popularity across India. Also, the water beneath keeps the panels cool and boosts efficiency, thus providing mechanical leverage. The tropical climate of Southern India and availability of water bodies provide ideal opportunities for the construction of floating solar power plants.

AM International is a diversified, multinational group of companies with a federated operating architecture. Headquartered in Singapore, its businesses have footprints across South East Asia, India and the United Kingdom. In addition to green energy, the group operates in fertilisers and supply chain, petrochemicals, infrastructure and healthcare space.

Greenam Energy, a wholly owned subsidiary of AM International Singapore, develops state-of-the-art green energy projects for various group companies to enable clean and environment-friendly manufacturing best practices.