Greenko to raise climate fund from TPG for green ammonia business

Greenko group, one of India’s largest renewable energy companies, is in talks with private equity investor TPG Rise Climate fund to raise as much as $750 million in its green ammonia business. TPG Rise fund, one of the most active investors in India’s clean energy space, has signed an exclusivity pact with Greenko and a

ONGC plans $10bn spend on green hydrogen and ammonia

ONGC, India’s largest state-owned oil & gas company, is planning to spend 800bn-850bn rupees ($9.6bn-10.2bn) on developing two million tonnes of green ammonia annual production capacity by 2035. In June 2022, ONGC announced a memorandum of understanding with renewables developer Greenko to jointly develop a 1.3GW electrolyser facility supplying one million tonnes a year of

WinGD gets class nod for ammonia engine safety

Bureau Veritas has granted Swiss marine power company WinGD’s ammonia-fuelled X-DF-A dual-fuel engine an approval in principle (AiP) for the engine’s safety concept The safety concept describes how risks associated with using ammonia as a fuel are controlled under foreseeable abnormal conditions, possible failure scenarios and their control measures. It is a key element for

Sembcorp agrees with Japanese firms to export green ammonia

Singapore’s Sembcorp Industries (SCIL.SI) said its green hydrogen unit had partnered with two Japanese firms to supply green ammonia produced in India to Japan, as the company moves to strengthen its position as a major green energy supplier. Sembcorp Green Hydrogen Pte, has signed a memorandum of understanding with Japanese conglomerate Sojitz Corp (2768.T) and

JERA to study ammonia supply to ships with NYK and Resonac

Japan’s top power generator JERA said that it would conduct a joint study with shipping major NYK Line and chemical company Resonac to supply ammonia to ships, as it seeks to expand the use of the low-carbon fuel beyond power plants. The study is the latest among shippers including North Sea Container Line, MOL and

Euronav shareholders approve CMB’s plans for alternative future

After a two-year battle for control of the Antwerp tanker giant, Famatown Finance, John Fredriksen’s finance vehicle, along with Frontline, his tanker firm, announced a deal with the Saverys-controlled Compagnie Maritime Belge (CMB) last month whereby 24 Euronav VLCCs will be handed over to Frontline for $2.35bn in return for Fredriksen backing away from his

Wärtsilä rolls out first four-stroke ammonia-fuelled engine

Finnish technology group Wärtsilä has introduced the marine sector’s first commercially available four-stroke engine-based solution for ammonia fuel. Viridis Bulk Carriers, the world’s first zero-emission shipping company, will be the first shipowner to benefit from the new ammonia solution. The company is a partnership between Amon Maritime, Mosvolds Rederi, and Navigare Logistics. Norwegian government enterprise

EPS lines up more orders for ammonia newcastlemaxes

Singapore’s Eastern Pacific Shipping (EPS) has signed up for more ammonia dual-fuel newcastlemax newbuilds in China. The Idan Ofer-controlled diversified shipowner has firmed up orders for three additional 210,000 dwt units at CSSC Qingdao Beihai Shipbuilding for delivery in 2027 and added four more optional vessels, taking its potential order tally at the yard to

NYK, CODELCO developing zero CO2 ammonia bulker

NYK Bulk & Project Carriers (NBP), Oshima Shipbuilding, and Sumitomo have signed a memorandum of understanding to study, design, and construct the world’s first ammonia dual fuel handymax bulk carrier that is claimed will reduce CO2 emissions to zero. This MoU comes a year after Chilean state-owned copper producer Corporación Nacional del Cobre de Chile

Some Asian nations make token efforts in fight against climate change

Japan and South Korea, Asia’s richest economies, have made token efforts to boost clean energy investments in the emerging markets of Southeast Asia and South Asia, but are far from leading the region’s fight for climate change. The lack of climate leadership demonstrated by these two nations partly stems from being laggards in climate action