ReNew Energy Global (ReNew) said on Thursday that it signed an initial agreement with JERA, Japan’s largest power generation company, to jointly evaluate the development of a green ammonia production project in India.
Under the agreement, ReNew, through its subsidiary ReNew E-Fuels, and JERA will jointly evaluate development of a green ammonia production project in Paradip, Odisha, the Nasdaq-listed firm said.
The project will utilize around 500 megawatt (MW) of high-capacity utilisation factor (CUF) renewable energy to produce green hydrogen, a key feedstock for green ammonia, it added.
The project is likely to have a production capacity of around 100,000 tonnes of green ammonia annually by 2030. JERA will have the right to offtake this green ammonia for Japan. There will be a joint study to evaluate the commercial viability of the project.
The two companies have built a strong relationship during the past seven years and the project will leverage ReNew’s proven capabilities in renewable energy development and solutioning, and JERA’s expertise in building full value chains.
This partnership between the two companies aligns with India’s ambitious National Green Hydrogen Mission and Japan’s clean energy transition goals.
The Indian government aims to produce 5 million tonnes of green hydrogen per year by 2030, in an effort to become the world’s largest green hydrogen hub. The Government of Japan is planning new initiatives to accelerate the transition towards clean energy. Both companies see India as a country with high potential for both solar and wind power.