GAIL, AM Green sign MoU for jointly developing renewable energy and green chemical projects
GAIL (India) Limited and AM Green B.V. (AMG) signed a Memorandum of Understanding (MoU) to explore projects aimed at advancing sustainable energy solutions in India. The partnership focuses on the long-term supply of carbon dioxide (CO2) for eMethanol production and the exploration of hybrid renewable energy project across India. The MoU was signed in the presence of Shri Rajeev Singhal, Director (Business Development), GAIL by Shri Sumit Kishore, Executive Director (Business Development and Exploration & Production), GAIL and Shri Mahesh Kolli, Group President, AM Green.
In line with the MoU, both the parties envisage to undertake studies for long-term supply of around 350 KTA CO2 generated by GAIL in its gas processing plants to produce eMethanol, an environmentally friendly fuel that can reduce carbon emissions and promote a circular economy. GAIL shall also have an equity option to invest in the proposed eMethanol project, ensuring a strategic partnership that supports both companies’ objectives in promoting sustainable energy solutions. Further, both the parties envision to jointly explore setting up of solar/wind hybrid renewable projects up to 2.5 GW across India. The hybrid solar/wind projects combined with Greenko’s upcoming Pump Storage Projects are poised to supply Round The Clock power to the end users including the proposed eMethanol project.
Speaking on the occasion, Shri Rajeev Singhal, Director (Business Development), GAIL said “the signing of this MOU with AM Green underscores our commitment to pioneering sustainable energy solutions. By facilitating the supply of CO2 for eMethanol production, we are taking a proactive approach to reduce carbon emissions and support alternative fuel development. Development of renewable energy projects will support reducing carbon footprint of the country and advancing India's transition to a greener energy landscape. The partnership between GAIL and AMG is set to augment technological innovation in India while also promoting economic growth and environmental sustainability.”
Shri Mahesh Kolli, Group President of AM Green, said “we are delighted to partner with GAIL on one of the world’s largest carbon-free, renewable energy supply contracts. This partnership demonstrates AM Green’s emerging leadership position as a global clean energy transition solutions platform while contributing to India’s ambition of emerging as an exporter of reliable, sustainable and lowest-cost green molecules and its derivatives accelerating industrial decarbonization globally. The production of green methanol shall also help in decarbonization of hard to abate sectors like shipping, steel, cement etc.”
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