Yara Clean Ammonia and AM Green sign term sheet for sale of renewable ammonia from India to Yara Clean Ammonia’s global market
Yara Clean Ammonia, the world’s largest trader and distributor of ammonia, and Greenko ZeroC, the green ammonia production arm of the India-based AM Green, signed a term sheet for supply of renewable ammonia from Phase 1 of AM Green’s ammonia production facility in Kakinada, India.
This term sheet and the subsequent offtake agreement covers the long-term supply of up to 50% of renewable ammonia from Phase 1 of AM Green’s ammonia production facility in Kakinada. The plant will produce, and export renewable ammonia derived from round-the-clock carbon free energy by 2027.
Renewable ammonia and other sustainable fuels from AM Green’s platform, will be compliant with EU RFNBO and Renewable Energy Directive requirements. For Yara Clean Ammonia, the renewable ammonia supply will contribute to produce low-emission fertilizer and for de-carbonizing other industries like shipping, power, and energy intensive industries.
Yara Clean Ammonia operates the largest global ammonia network with 15 ships and has, through Yara, access to 18 ammonia terminals and multiple ammonia production and consumption sites across the world. Revenues and EBITDA for FY 2023 were USD 1.9 billion and USD 101 million respectively. Yara Clean Ammonia is headquartered in Oslo, Norway.
AM Green, incorporated by the founders of Hyderabad-based Greenko Group - Anil Chalamalasetty and Mahesh Kolli, is India’s leading energy transition solutions provider. AM Green is developing one of world’s largest green ammonia platforms starting with 1 million ton of production capacity at Kakinada in two phases and ramping capacity to 5 million ton per annum of green ammonia by 2030 – equivalent of 1 million ton per annum of hydrogen.
