GAIL and AM Green signs Memorandum of Understanding for Jointly Developing Renewable Energy up to 2.5 GW and Green Chemical Projects

• GAIL and AM Green will jointly explore setting up of solar/wind hybrid renewable projects to enable supply of Renewable Energy - Round the Clock (RE-RTC)
• Partnership to focus on the long-term supply of carbon dioxide (CO2), and eMethanol production and exploration across India

AMSTERDAM and NEW DELHI, Oct. 4, 2024 /PRNewswire/ -- GAIL (India) Limited and AM Green B.V. (AMG) have 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 hybrid renewable energy project, and eMethanol production and exploration across India.

GAIL and AM Green signs Memorandum of Understanding

Shri Sumit Kishore, Executive Director (Business Development and Exploration & Production), GAIL and Shri Mahesh Kolli, Group President, AM Green signed the MoU in presence of Shri Rajeev Singhal, Director (Business Development), GAIL.

In line with the MoU, 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.

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.

Mahesh Kolli, Group President of AM Green: "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."

Rajeev Singhal, Director (Business Development) of GAIL: "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."

AM Green's production of the green ammonia across multiple locations in India will accelerate its target to achieve 5 MTPA of green ammonia capacity by 2030, and its efforts to achieve net zero targets in India as well as in OECD markets. This will be equivalent to about 1 MTPA of green hydrogen, representing a fifth of India's target for green hydrogen production under the country's National Green Hydrogen Mission and 10 per cent of Europe's target for green hydrogen imports by 2030. AM Green will also establish large-scale bio refineries that utilize multiple feedstocks & produce high-value green products enabling global decarbonization in aviation, fuels, chemicals and other industrial sectors.

For further enquiries:Jyoti KumarCorporate CommunicationGAIL (India) LimitedT: +91 9818805711E: jyotik@gail.co.in^[1]

Suheil ImtiazPublic Affairs & Strategic CommunicationsAM GreenM: + 91 94401 59289E: suheil.m@amgreen.com^[2]

References

1. ^{^} jyotik@gail.co.in (www.prnasia.com)
2. ^{^} suheil.m@amgreen.com (www.prnasia.com)