Keppel Infrastructure Holdings Pte Ltd (Keppel Infrastructure) and Greenko Group (Greenko), through their respective subsidiaries Keppel New Energy Ventures Pte Ltd and Greenko ZeroC Private Limited, have signed a Memorandum of Understanding (MoU) to jointly explore green ammonia and renewable energy prospects in order to meet the growing demand for low carbon energy in India, Singapore, and globally.
- According to the MoU, India will for the first-time, begin exporting green energy in 2025, with the first shipments going to a power plant in Singapore.
- Keppel Infrastructure is a fully owned subsidiary of Keppel Corporation, a Singapore-based multinational company.
- Greenko Group is India’s premier energy transition company.
The MoU was witnessed virtually by India’s Petroleum and Natural Gas Minister Hardeep Singh Puri and Singapore’s Trade and Industry Minister Gan Kim Yong, on the margins of the “Singapore International Energy Week,” which started on October 25, 2022, and would end on October 28, 2022.
- The Government of India (GoI) intends to allocate around Rs. 6,000 crore each for Production-Linked Incentive (PLI) schemes for electrolyzers and green hydrogen from the Rs. 20,000 crore green hydrogen mission.
- By 2030, India’s total hydrogen demand is expected to reach 11.7 million metric tonnes (mmt) from the current level of 6.7 mmt.
i.Green ammonia, a carbon-free fuel, is generated from green hydrogen produced by water electrolysis using renewable power.
ii.Green ammonia could be used to replace bunker fuels in order to decarbonize the global maritime industry.
iii.The International Energy Agency (IEA) has acknowledged ammonia, along with hydrogen, as a significant fuel for future electricity generation.
i.In accordance with the MoU, Keppel Infrastructure and Greenko will work together to build a facility that can produce at least 250,000 tonnes of green ammonia annually, which will be used to fuel Keppel’s new 600 MW (megawatt) power plant in Singapore.
ii.Furthermore, Keppel Infrastructure and Greenko will jointly identify & evaluate a portfolio of solar and wind energy projects with an installed capacity of up to 1.3 GW (gigawatt), supplemented by pumped hydro-storage, to power the green ammonia production facility.
iii.This collaboration will help India attain its target of producing 5 million tonnes of green hydrogen per year by 2030 and becoming a production and export hub for the fuel.
i.In September 2022, Greenko signed a deal with South Korean steel and power maker Posco to deliver 1 million tonnes of green ammonia per year. The delivery is also anticipated to begin in 2025 -2026.
ii.Greenko Group and Belgium’s John Cockerill intend to establish a 2 GW electrolyzer factory in India, one of the world’s largest, through their joint venture. The financial outlay of the factory will be USD 500 million.
iii.Greenko’s green ammonia will help India reduce its ammonia and urea imports by around 6 million tonnes.
iv.Greenko intends to produce close to 3 million tonnes of green ammonia overall, also covering domestic demand.
Founder, Chief Executive & MD – Anil Kumar Chalamalasetty
Establishment – 2006
Headquarters – Hyderabad, Telangana
Recent Related News:
i.At the “Global Clean Energy Action Forum 2022,” Union Minister Dr. Jitendra Singh declared that India had created a Roadmap and Strategy for A Bio-Based Economy that is expected to reach USD 150 billion by 2025. This step will facilitate the production of low-carbon bio-based products.
ii.India recently announced the National Hydrogen Energy Mission to make green hydrogen production cost-competitive.