Gentari, GIC Tie Up with Greenko Founders to Develop Green Ammonia Platform

The new venture targets the first delivery of green ammonia by late 2025


Gentari, the clean energy division of Malaysia’s Petronas, has entered into an agreement with AM Green, a green energy platform initiated by the founders of India-based Greenko, to produce 5 million tons per annum (MTPA) of green ammonia by 2030 using renewable energy sources.

Gentari, through its wholly owned subsidiary, Gentari International Renewables, will co-invest progressively in AM Green Ammonia Holdings (AMG Ammonia). An affiliate of Singapore’s investment entity, GIC, is also an investor in AMG Ammonia.

The partnership sets its sights on multi-location production of green ammonia across India. It expects to contribute to India’s net-zero goals and address the renewable energy demands of Germany, Japan, South Korea, and Singapore. Exports of green ammonia to these key markets are expected to commence by late 2025.

The AM Green Ammonia unit is poised to become a fully funded platform post-investment, enabling phased investments in Andhra Pradesh, Tamil Nadu, Gujarat, Karnataka, and Himachal Pradesh.

AM Green’s production of green ammonia will be underpinned by round-the-clock renewable energy, made possible through offtake agreements with power producers and electrolyzers manufactured by another unit of AM Green, AM Green Technology and Solutions.

The 5 MTPA of green ammonia equals approximately 1 MTPA of green hydrogen, signifying a fifth of India’s target for green hydrogen production under the country’s National Green Hydrogen Mission and 10% of Europe’s green hydrogen imports by 2030.

“We are delighted to partner with Gentari and GIC to venture into the global low-carbon green economy. The commitment from Gentari and GIC underpins Prime Minister Modi’s vision for India to become a leader in the global energy transition. This strategic partnership will work to accelerate net zero targets of various industries and several OECD economies. Continuous focus on innovation and execution will ensure our venture, AM Green, remains ahead of others in becoming a global clean energy transition solutions platform,” said Anil Chalamalasetty, Founder of Greenko Group and AM Green.

For Gentari, robust collaborations in their focal market of Malaysia and the broader Asia Pacific region are pivotal to realizing their global aspiration of achieving up to 1.2 MTPA in clean hydrogen production by 2030.

Greenko began negotiations with Germany-based energy company Uniper in February this year for the annual offtake of 250,000 tons of green ammonia to the European Union. Under the agreement, green ammonia would be supplied from Phase I of Greenko ZeroC’s ammonia production unit.

In July, Gentari signed a 50:50 joint venture agreement with ReNew to develop solar, wind, and energy storage assets to achieve a clean power capacity target of 5 GW in India. The partnership followed Gentari’s initial investment for a 49% equity stake in ReNew Power’s 403 MW  power project that the latter announced in May this year.