Gentari, the renewable energy arm of Petronas, and an affiliate of GIC will invest in the project being developed by AM Green, which has been set up by the founders of clean energy company Greenko Group, the companies said in a statement.Malaysian energy giant Petroliam Nasional (Petronas) and Singapore's sovereign wealth fund GIC will invest in a project to produce five million tonnes of green ammonia a year in India by 2030.Gentari, the renewable energy arm of Petronas, and an affiliate of GIC will invest in the project being developed by AM Green, which has been set up by the founders of clean energy company Greenko Group, the companies said in a statement."Gentari Sdn Bhd (Gentari), via its wholly-owned subsidiary Gentari International Renewables Pte Ltd, has entered into an agreement with AM Green BV (AM Green) to jointly invest, in phases, into a green ammonia platform, AM Green Ammonia Holdings BV (AMG Ammonia)," it said.AMG Ammonia is established by the founders of Greenko. An affiliate of Singapore investment entity, GIC, is also an investor in AMG Ammonia."AMG Ammonia is projected to produce 5 million tonnes per annum of green ammonia using round-the-clock renewable energy by 2030. The platform aims to deliver green ammonia, as it is presently the most mature and stable form of transporting hydrogen," it said. The company, however, did not give the size of the investment.The 5 million tonnes of green ammonia produced is equivalent to approximately 1 million tonnes of green hydrogen, and would represent 20 per cent of India's target for green hydrogen production by 2030, or 10 per cent 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," the statement said. "The first export of green ammonia from this platform is targeted by late 2025, and aims to serve key OECD markets, such as Germany, Japan and South Korea, as well as Singapore."Gentari and AM Green both bring complementary capabilities across the green hydrogen value chain, including renewable energy, electrolysers, and ammonia production and marketing capabilities.To read more, visit: https://www.zeebiz.com/companies/news-petronas-gic-to-invest-in-green-ammonia-project-in-india-261976 (ICE MUMBAI)

Fonte notizia: Zee Business