AM Green, a hydrogen and green ammonia venture wholly owned and controlled by the founders of Greenko Group, has signed a Memorandum of Understanding (MOU) with Shanghai-headquartered Envision Energy International to partner in the manufacture of wind turbines for AM Green’s clean energy projects in India and to collaborate on green hydrogen projects. Envision Energy is a smart wind power technology and energy storage solution company.
The MOU between AM Green and Envision was signed during the World Economic Forum’s Annual Summit in Davos, Switzerland.
AM Green and Envision will harness complementary capabilities to manufacture, supply and service wind turbines in India specific to AM Green’s wind turbine requirements in the country. AM Green, through its customers, looks to commit to an offtake of at least 2 GW of capacity per year over the next three years. The wind turbines will supply energy to produce renewable green molecules.
Mahesh Kolli, president, AM Green, said, “This partnership is bringing together two industry specialists to harness their manufacturing strengths to create sustainable business ventures for the long term. We are excited about the opportunity ahead in global decarbonisation.”
The partnership is part of AM Green’s larger efforts to advance the development of a secure supply chain for high-quality, cost-effective wind turbines in India. Through such partnerships, AM Green aims to achieve the most economically efficient 24×7 power supply for its green molecule plants across India.
AM Green and Envision will also work jointly in the development of green hydrogen projects and develop net-zero industrial parks. In addition, both companies will draw on their technical expertise to jointly develop a set of applicable green hydrogen industrial standards.
Kane Xu, global VP and country president – India, Envision, said, “Both Envision and AM Green share a similar vision for global decarbonization. This exciting partnership will also provide cutting-edge solutions to positively impact India’s aggressive net zero and green energy goals.”
AM Green has been incorporated by the founders of Hyderabad-based Greenko Group. AM Green aims to become one of the lowest-cost producers of green hydrogen, green ammonia, and other green molecules in the world by leveraging its parent company’s strength in renewable energy and storage-as-a-service model.
In India, AM Green is developing production capabilities for green molecules (green hydrogen, green ammonia, biofuels, green caustic soda, and e-methanol) for decarbonization of hard-to-abate industries. The venture will also set up an international renewables and storage business and a JV with Belgian firm John Cockerill to make electrolyzers.
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