Gentari, the renewable energy arm of Petronas and  GIC (Government of Singapore Investment Corporation) to jointly invest up to USD 2 billion in AM Green Ammonia Holdings - a company established by the founders of Greenko, to bolster Green hydrogen and Ammonia production in India.

AM Green Ammonia Holdings aims to produce 5 MTPA (million tonnes per annum) of green ammonia which can be converted to produce 1 MTPA Green Hydroge. The output will represent 20% of India’s green hydrogen target by 2030. Once finalized, the transaction will be the largest FDI (Foreign Direct Investment) India has received in this sector.

Anil Chalamalasetty, founder of Greenko and AMG, stated that the joint venture with GIC and Gentari will accelerate net zero targets of various Industries and several OECD economies. Gentari and AM Green both bring complementary capabilities across the hydrogen value chain, including renewable energy, electrolyzers, and ammonia production and marketing capabilities. Apart from this AM Green will also manage Greenko’s previously agreed joint venture with John Cockerill, which aims to supply 6.5 GW of electrolyzers produced in-house.

The Joint venture will invest in phases, into green ammonia projects across India. The projects will focus on a competitive supply of green hydrogen to the global market. The first export of green ammonia and hydrogen from these facilities may start by late 2025. The exports will serve the markets in Germany, Japan, and South Korea.
 

Objectives of Gentari in this Partnership

Gentari and its strong collaborations, with its focus markets of Malaysia and the Asia Pacific, play a vital role in delivering the global ambition of up to 1.2 MTPA in clean hydrogen by 2030. The company sees a strong potential for developing a hydrogen economy. Gentari has undertaken efforts to position Malaysia as a hydrogen export hub. The hydrogen ventures will support a comprehensive national roadmap.

Sushil Purohit CEO of Gentari stated that the company wants to expand its portfolio of clean energy solutions in Malaysia, Asia-Pacific, and beyond. He also added that the partnership with AM Green and GIC plays a vital role in accelerating green hydrogen adoption globally.
 

About GIC

GIC Private Limited is a Singaporean sovereign wealth fund that manages foreign reserves. The organization. GIC  has a global investment portfolio of USD 360 billion under management. The organization manages Singapore's foreign reserves and is positioned for long-term and flexible investments throughout asset classes. 

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