AM Green, a hydrogen and green ammonia venture wholly owned and controlled by Greenko Group’s founders, has signed a Memorandum of Understanding (MOU) with Shanghai-based Envision Energy International to manufacture wind turbines for AM Green’s clean energy projects in India, as well as collaborate on green hydrogen projects. Envision Energy is a smart wind power technology and energy storage solutions provider.
The Memorandum of Understanding between AM Green and Envision was signed at the World Economic Forum’s Annual Summit in Davos, Switzerland.
AM Green and Envision will combine their complementary competencies to build, supply, and service wind turbines in India that meet AM Green’s unique specifications. AM Green expects its clients to commit to an offtake of at least 2 GW of capacity per year over the next three years. Wind turbines will provide energy to generate renewable green molecules.
Mahesh Kolli, president of AM Green, stated, “This alliance brings together two industry professionals to use their manufacturing skills to build long-term commercial opportunities. We are thrilled about the opportunities for global decarbonization.”
The collaboration is part of AM Green’s bigger efforts to build a reliable supply chain for high-quality, low-cost wind turbines in India. AM Green aspires to produce the most economically efficient 24×7 power supply for its green molecular factories across India by forming partnerships.
AM Green and Envision will also collaborate on the development of green hydrogen projects and net-zero industrial parks. Furthermore, both firms will combine their technological skills to create a set of appropriate green hydrogen industrial standards.
Kane Xu, Envision’s global VP and national president for India stated, “Envision and AM Green have similar visions for global decarbonization. This innovative alliance will also bring cutting-edge technologies to help India achieve its ambitious net zero and green energy targets.“
The founders of the Greenko Group, located in Hyderabad, established AM Green. AM Green wants to become one of the world’s lowest-cost manufacturers of green hydrogen, green ammonia, and other green molecules by utilizing its parent company’s expertise in renewable energy and the storage-as-a-service model.
AM Green is developing green molecular manufacturing capabilities in India (green hydrogen, green ammonia, biofuels, green caustic soda, and e-methanol) to decarbonize hard-to-abate businesses. The collaboration will also establish an international renewables and storage business, as well as a joint venture with Belgian manufacturer John Cockerill to manufacture electrolyzers.
