GAIL (India) has partnered with AM Green B.V. (AMG) to set up solar and wind hybrid renewable energy projects of up to 2.5GW in India, the state-owned PSU said in a statement. Both companies signed a memorandum of understanding (MoU) on Friday.
As part of the MoU, both companies will focus on a long-term supply of carbon dioxide (CO2) for hybrid renewable energy projects and methanol in the country, as per the statement. In line with the MoU, both parties envisage to undertake studies for a long-term supply of around 350 KTA CO2 generated by GAIL in its gas processing plants to produce ethanol.
According to the statement, GAIL will also have an equity option to invest in the proposed methanol project, ensuring a strategic partnership that supports both companies' objectives in promoting sustainable energy solutions.
The hybrid solar and wind projects combined with Greenko's upcoming Pump Storage Projects are poised to supply Round Clock power to the end users including the proposed eMethanol project, the PSU added.
Speaking on the occasion, Rajeev Singhal, Director (Business Development), GAIL said "The signing of this MOU with AM Green underscores our commitment to pioneering sustainable energy solutions. By facilitating the supply of CO2 for methanol production, we are taking a proactive approach to reduce carbon emissions and support alternative fuel development.
"Development of renewable energy projects will support reducing the carbon footprint of the country and advancing India's transition to a greener energy landscape. The partnership between GAIL and AMG is set to augment technological innovation in India while also promoting economic growth and environmental sustainability," he added.
Mahesh Kolli, Group President of AM Green said, “This partnership demonstrates AM Green's emerging leadership position as a global clean energy transition solutions platform while contributing to India's ambition of emerging as an exporter of reliable, sustainable and lowest-cost green molecules and its derivatives accelerating industrial decarbonisation globally. The production of green methanol shall also help in the decarbonisation of hard-to-abate sectors like shipping, steel, cement etc.”
GAIL, a Maharatna Central Public Sector Enterprise, is India's leading natural gas transmission and distribution company with gas transmission and distribution pipelines, processing and petrochemicals plants besides interest in upstream oil & gas blocks and LNG regasification terminals in India.
AMG is a subsidiary of the AM Green Group promoted by Greenko founders. AMG's ammonia manufacturing facilities will be powered entirely by carbon-free energy sources such as solar, wind, and hydroelectric power. (ANI)
