Gentari, the clean energy unit of Malaysia’s Petronas, has partnered with Greenko founders-owned AM Green to produce and export green ammonia from India. Greenko is one of India’s leading renewable energy companies.
According to a media release, Gentari and AM Green will jointly invest, in phases, into the green ammonia platform, AM Green Ammonia Holdings BV (AMG Ammonia), established by the founders of Greenko. An affiliate of Singapore investor, GIC, is also an investor in AMG Ammonia.
AMG Ammonia is projected to produce 5 million tonnes per annum (mtpa) of green ammonia using round-the-clock renewable energy by year 2030. The platform aims to deliver green ammonia, as it is presently the most mature and stable form of transporting hydrogen.
Gentari and AM Green bring complementary capabilities across the green hydrogen value chain, including renewable energy, electrolysers, and ammonia production and marketing capabilities.
“The 5 mtpa of green ammonia produced is equivalent to approximately one mtpa of green hydrogen, and would represent 20% of India’s target for green hydrogen production by 2030, or 10% of Europe’s target for imported renewable hydrogen. This size and capacity will place AMG Ammonia among the world’s pioneers in large-scale and cost-competitive green ammonia production,” stated Gentari.
The 1st export of green ammonia from this platform is targeted by late 2025. The platform aims to serve key OECD markets, such as Germany, Japan and South Korea, as well as Singapore.
“The parties will mutually invest in AMG Ammonia, demonstrating full commitment to realize the platform’s potential and expand their presence in Asia Pacific and Europe,” stated Gentari.
Post-investment from Gentari, AM Green and GIC, AMG Ammonia will be a fully funded platform for the targeted ammonia production plan. The platform is expected to invest, in phases, into projects across different locations in India. This will ensure a competitive hydrogen supply to the global market.
Gentari targets 30-40 GW of installed capacity in renewable energy, up to 1.2 mtpa of clean hydrogen, and over 10% share of the public charging points and Vehicle-as-a-Service market across key countries in Asia Pacific globally by year 2030. Strong collaborations in its focus market of Malaysia and the broader Asia Pacific, will be vital to meeting its objective. In Malaysia, the company sees strong potential for developing a local hydrogen economy. To this end, Gentari has undertaken efforts to position Malaysia as a hydrogen export hub whereby its hydrogen ventures will support a comprehensive national roadmap that includes hydrogen as an energy transition lever for Malaysia.
AM Green, indirectly wholly-owned and controlled by the founders of Hyderabad-based Greenko Group, Anil Chalamalasetty and Mahesh Kolli, aims to become one of the most cost-competitive producers of green hydrogen, green ammonia and other green molecules in the world. In India, AM Green is developing production capabilities for green molecules (green hydrogen, green ammonia, biofuels, green caustic soda, e-methanol) for decarbonisation in hard-to-abate industries. The venture will also set up an international renewables and storage business and a JV for making electrolysers with John Cockerill of Belgium.