To offtake 100,000 tons of green ammonia annually
NEW DELHI, 29 October 2024: BASF and AM Green B.V. have entered a memorandum of understanding (MoU) to jointly evaluate and develop business opportunities for low-carbon chemicals produced exclusively with renewable energy, and the corresponding value chains in India.
Dr. Markus Kamieth, Chairman of the Board of Executive Directors of BASF SE, and Mahesh Kolli, Group President of AM Green, signed the agreement in the context of the Asia-Pacific Conference of German Business 2024 hosted in New Delhi, India.
Under the MoU, BASF and AM Green intend to conduct feasibility studies on low-carbon chemicals production in India including a joint evaluation of potential technologies. The cooperation also includes a non-binding letter of intent for the offtake of 100,000 tons annually of ammonia produced exclusively with renewable energy including energy from pumped storage projects from AM Green’s plants in different locations in India.
This ammonia will meet EU standards for renewable fuels of non-biological origin (RFNBO) as defined in the Renewable Energy Directive (RED III). Some of AM Green’s facilities have already been pre-certified for RFNBO compliance through the CertifHy voluntary certification scheme. Pre-certification for AM Green’s other facilities is currently underway.
“We are committed to the sustainable transformation of the industries we serve. We are convinced that India is the right place to explore low-carbon chemical production together with our partner AM Green,” Dr. Markus Kamieth, Chairman of the Board of Executive Directors of BASF SE said.
