Gentari, GIC and Greenko to produce, export green ammonia

A joint statement from Gentari and AM Green said the partnership will focus on the production of green ammonia in multiple locations across India, which is expected to accelerate efforts to achieve net-zero targets in India and OECD markets. Exports of green ammonia from this platform to key OECD markets such as Germany, Japan, South Korea, and Singapore are expected to begin in late 2025, it said.

The green ammonia will be produced by a unit of AM Green, known as AM Green Ammonia Holdings. After investments from Gentari, GIC and AM Green, the unit will be a fully funded platform that will invest in phases in Andhra Pradesh, Tamil Nadu, Gujarat, Karnataka and Himachal Pradesh.

Mint previously reported that Gentari Sdn Bhd and GIC Holdings Pte Ltd will invest $1.75 billion in AM Green Ammonia Holdings, a company owned by Greenko Group founders Mahesh Kolli and Anil Kumar Chalamalasetty. Gentari will invest $1.5 billion for a 30% stake in AM Green Ammonia Holdings, valuing the company at $5 billion. The founders will hold the remaining 70% along with Singaporean wealth fund GIC, which will invest $250 million, Mint had reported.

The joint statement said the planned 5 MTPA of green ammonia would be equivalent to about 1 MTPA of green hydrogen, representing a fifth of India’s target for green hydrogen production under the National Green Hydrogen Mission and 10% of Europe’s target for green hydrogen imports by 2030.

The production of green ammonia by AM Green will be supported by the round-the-clock renewable energy supplied via offtake agreements with counterparties and electrolysers manufactured by another unit of AM Green (AM Green Technology & Solutions).

AM Green will also produce green molecules such as green methanol, green caustic soda, green chlorine, biofuels and various downstream, high-value green chemicals under its AM Green Molecules subsidiary. In addition, AM Green will house a joint venture with John Cockerill of Belgium to manufacture electrolysers in its AM Green Technology & Solutions subsidiary, supplying about 6.5 GW of electrolysers to AM Green Ammonia by 2030.

The statement said that the completion of the transaction is subject to the fulfilment of relevant and customary condition precedents. Citigroup Global Market India Pvt. Ltd. and Cyril Amarchand Mangaldas acted as the exclusive financial and legal advisors to AM Green for this transaction.

AM Green is wholly owned and controlled by the founders of Hyderabad-based Greenko Group – Anil Chalamalasetty and Mahesh Kolli. In India, AM Green is developing production capabilities for green molecules (green hydrogen, green ammonia, biofuels, green caustic soda, e-methanol) for decarbonisation in hard-to-abate industries.