AM Green secures €585M renewable ammonia deal with Germany’s H2Global | Hyderabad News
Hyderabad: AM Green Ammonia (India) Private Limited has won the Asian lot in Germany-backed H2Global’s latest auction, securing a 10-year offtake deal to supply renewable ammonia to Germany, the company and Hint.co GmbH said on Wednesday.Hintco, the trading arm of H2Global, will buy ammonia from AM Green for a minimum value of €585 million over the contract period and may buy additional volumes using proceeds from resales of green ammonia into the European market. The award followed a competitive bidding process in which AM Green’s offer ranked first among submissions.The ammonia will be produced at AM Green’s Kakinada Phase 2 project in Andhra Pradesh, where an existing natural gas-based ammonia and urea complex is being converted to run on alkaline electrolysis. Electricity will come from round-the-clock renewable power backed by pumped-hydro storage, designed to meet European Union requirements for renewable fuels of non-biological origin.The first shipments are expected in 2029, departing from Kakinada Seaports, located beside the plant. AM Green, promoted by the founders of Greenko Group, is developing low-carbon ammonia projects across India and aims to reach 5 million tonnes per year of green ammonia capacity. Its 1-million-tonne-per-year Kakinada facility is under construction and is expected to be among the world’s largest RFNBO-compliant green ammonia plants.Timo Bollerhey, Hintco’s chief executive and co-founder of H2Global, said the result showed rapid market momentum and that long-term contracts can give producers investment certainty while securing European supply for buyers.H2Global Foundation executive director Markus Exenberger said renewable ammonia could carry clean power to industries that cannot be fully electrified.AM Green Group president Mahesh Kolli said the win validated India’s ability to deliver competitively priced green molecules at industrial scale. “This is an important milestone for AM Green, and only the beginning of the role we intend to play in building a global market for renewable molecules,” he said.
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