AM Green Ammonia B.V., a venture floated by founders of Greenko Group, said it has reached final investment decision (FID) for its one million-tonne green ammonia project in Kakinada in Andhra Pradesh.
Without giving investment details, the firm said FID essentially would lead to the start of project work.
AM Green, incorporated by the founders of Hyderabad-based Greenko Group, Anil Chalamalasetty and Mahesh Kolli, is developing one of the world's largest green ammonia platforms, starting with 1 million tonne of production capacity at Kakinada in two phases and ramping capacity to 5 million tonnes per annum of green ammonia by 2030—equivalent to 1 million tonne per annum of hydrogen.
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The company, in addition to its founders, has Gentari and GIC as its shareholders.
"The total project spend for the plant will include a green hydrogen generation unit and its subsequent conversion to green ammonia, along with all associated balance of plant and infrastructure," the statement said.
The project will be located at an existing urea plant in Kakinada, which the company acquired earlier this year. The company plans to convert this facility into a green ammonia-producing unit, which will commence production in the second half of 2026.
"The company has already executed offtake term sheets for this project with major players such as Uniper, Yara, Keppel, and others for intended end use in a range of green hydrogen applications," it said.
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Also, it has secured the required 1300 MW round-the-clock carbon-free power enabled through 4500 MW solar and wind hybrid capacity in combination with 950 MW of PSP capacity.
A 25-year fixed-price power purchase agreement (PPA) with NTPC for this is already in place. The remaining capacity is expected to be supplied by Gentari.
"The company has unique access to gigawatt-scale pump storage projects and a manufacturing partnership for electrolysers with John Cockerill of 2GW scale. These reliable, state-of-the art pressurised alkaline electrolysers are envisioned to be deployed for this project," the statement said.
In addition to the Kakinada project, the company is looking to produce green ammonia across multiple locations in India to achieve its planned 5 million tonnes of green ammonia capacity by 2030.
Anil Chalamalasetty, founder, Greenko Group and AM Green, said: "The FID status achieved by our Kakinada plant underscores our commitment to providing carbon-free energy solutions globally while meeting the highest standards like EU RFNBO norms.
"This is a significant milestone for AM Green as it reinforces our position as a leading energy transition solutions platform helping to decarbonise industries like refineries, shipping, fertilisers, power generation, chemicals, and others through low-cost green molecules and its derivatives."
