Coal India to invest in green power for AM Green at ₹25000 crore
Coal India Ltd is moving to cleaner energy and has signed an agreement to supply 4,500 megawatts of renewable energy to AM Green, a company backed by the founders of Greenko. The agreement involves solar and wind for green ammonia plants.
The Memorandum of understanding was signed on 7 May and is one of the largest renewable energy deals anywhere in the world. To meet the demand, Coal India will invest about ₹25000 crore in adding solar and wind power capacity.
The company is planning to build 2,500–3,000 MW of solar power in sunny states such as Gujarat and Rajasthan and 1,500–2,000 MW of wind power in southern states.
AM Green will use this clean energy with hydro storage to run its green ammonia plants stably. The company aims to produce 5 million tonnes of green ammonia by 2030—equivalent to about 1 million tonnes of green hydrogen, which is 20% of India’s target.
Coal India chairman P.M. Prasad said, “This development shows their desire to meet India’s energy requirements while developing a more sustainable future.”
Anil Chalamalasetty, founder of Greenko and AM Green, stated they will help position India as a global leader in low-cost green hydrogen and ammonia.
AM Green plans to produce not only sustainable aviation fuel, green chemicals, and biofuels, but has also partnered with Rio Tinto to develop a large aluminum facility powered one-hundred percent on renewable energy.
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