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Nasdaq-listed ReNew Energy Global plc signed an agreement with JERA Co., Japan's power generation major, to jointly develop a green ammonia production facility in India. ReNew in a public statement said its subsidiary, ReNew E-Fuels Private Limited, and JERA will jointly evaluate the development of a green ammonia production project in Paradip, Odisha.
There will be a joint study to evaluate the commercial viability of the project, the company said.
"The project will utilise approximately 500 MW of high-capacity utilisation factor (CUF) renewable energy to produce green hydrogen, a key feedstock for green ammonia. The project is likely to have a production capacity of approximately 100,000 tonnes of green ammonia annually by 2030," said the company's statement on Thursday.
It further said, JERA will have the right to offtake this green ammonia for Japan.
Sumant Sinha, founder, chairman & chief executive officer, ReNew, said, "This collaboration marks an exciting time for both ReNew and JERA, and demonstrates our commitment in accelerating the clean energy transition. Green ammonia holds immense potential in reducing carbon emissions and the project, once ready, will contribute to a cleaner future and support India's National Green Hydrogen Mission."
Yukio Kani, global chief executive officer & chair of JERA, said, "This joint development agreement represents a significant milestone and an exciting advancement moving us one step closer to realising a decarbonised society, with a focus on the sustainability, affordability, and stability of future energy.”
In 2022, ReNew also signed a framework agreement with the Government of Egypt to set up a green hydrogen plant with an investment of $8 billion in the Suez Canal Economic Zone.
ReNew also has a joint venture called GH4India Pvt Ltd with state-owned oil company Indian Oil Ltd and manufacturing major L&T to jointly set up a green hydrogen business.
