GREENKO GROUP OF COMPANIES
SJVN to supply 4500 MW green energy to AM Green's green ammonia facilities
Greenko Group's subsidiary, AM Green, and SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN, have signed a Memorandum of Understanding (MoU) for a long-term renewable energy supply agreement. Under the agreement, SGEL will provide 4,500 MW of carbon-free energy to power AM Green's forthcoming green ammonia facilities.
Greenko in talks with REC to raise up to Rs 2,400 crore
The project has an offtake agreement with Norway's Yara and received pre-certification for ammonia. An offtake agreement is a contract to buy or sell goods in advance of production, which will facilitate financing for the project. Greenko has signed a term sheet with Yara Clean Ammonia in May this year, the trader and distributor of ammonia, for the supply of renewable ammonia from Phase 1 of AM Green's ammonia production facility in Kakinada, Andhra Pradesh.
Greenko Zero C to supply 500,000 tonnes of green ammonia to Norway's Yara Clean Ammonia
Deliveries to start from Kakinada from Q4 of CY26, Industry sources say contract size expected to be $1.5-$1.8 bn over 10 years. 5GW of renewable power and pump storage in Andhra Pradesh to back production
Greenko Energies gets CCI nod to acquire additional stake in Sikkim Urja
CCI approved Greenko Energies' additional stake acquisition in Sikkim Urja Ltd, a special purpose vehicle for a 1,200 MW hydropower project in North Sikkim. The acquisition was part of promoting fair competition in the marketplace.
RIL to lead massive Rs 1 lakh crore investment in green hydrogen, ammonia units at Kandla
Reliance Industries Ltd (RIL), Larsen and Toubro (L&T), Greenko Group, and Welspun New Energy are planning to establish green hydrogen and green ammonia units at Gujarat’s Deendayal Port Authority (DPA) in Kandla, according to informed sources. The project, estimated to attract investments up to Rs 1 lakh crore, marks one of the largest investments in India's energy infrastructure.
Acre puts Nagarjuna Fertilizers up for sale at double buy price
Distressed debt aggregator Acre Asset Reconstruction Company (ARC) plans to sell Nagarjuna Fertilizers and Chemicals, seeking ₹1,600 crore from bidders. The sale includes the Kakinada urea plant and other assets. However, the company faces issues with gas supply, litigation, reimbursements, and land usage norms.
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Hindalco buys 26% in renewable energy company to power smelter in Odisha
Bengaluru-based Ayana Renewable, which was incorporated in 2019, is majorly owned by National Infrastructure and Investment Fund, and had a 5 GW energy portfolio as on March, 2023. Hindalco, one of the largest producers of primary aluminium in the country, has manufacturing facilities in Uttar Pradesh, Madhya Pradesh and Odisha. It has acquired stake in Ayana Renewable in cash on Wednesday, and the company will now be an associate company of Hindalco Industries, it said in an exchange filing.
China's Envision Energy to manufacture wind turbines for Greenko's AM Green
China's Envision Energy International and AM Green, a hydrogen and green ammonia venture by the founders of Greenko Group, have entered an agreement to manufacture wind turbines for AM Green's clean energy projects in India. The collaboration, signed during the World Economic Forum’s Annual Summit in Davos, aims to leverage the strengths of both companies to create a sustainable business venture.
Indian energy producer AM Green seeks $1 billion funding, sources say
The firm is working with an adviser on the fundraising to bolster its ability to produce green hydrogen and other chemical compounds, the people said, asking not to be identified as the information is private. AM Green aims to build a million tonnes a year of green methanol capacity, one of the people said.
Malaysia's Petronas, Singapore's GIC and Greenko form a $2 billion green ammonia venture
Petronas arm Gentari and AM Green established by the creators of Greenko have officially announced the signing of binding agreements with a GIC affiliate. Their collective goal is to produce 5 million tons per annum (MTPA) of green ammonia by the year 2030, which is equivalent to approximately 1 MTPA of green hydrogen.
Singapore's GIC ties up Vedanta Group company Sterlite Transmission for $1 bn joint venture
GIC will be deploying $500 million in the infrastructure business for a 49% stake. The investment will take place in tranches, with an initial $100 million and $400 million to come in over the next two to three years on a need-to-draw down basis. This will be linked to Sterlite Power winning transmission project tenders and planned capex.
PFC and REC ink Rs 5 lakh crore pacts with green companies
PFC signed pacts worth Rs 2.37 lakh crore with 20 companies in the clean energy space, the company said in a press release. REC, on the other hand, tied up for Rs 2.75 lakh crore on the sidelines of the G20 Clean Energy Ministerial conference, according to an official.
BP, Petronas in race to invest up to $2 billion in Greenko founders’ new platform
The new platform is planning to produce 4-5 MTPA of green ammonia, green methanol and electrolysers at Kakinada in Andhra Pradesh, incurring a capital expenditure of $10 billion.
AMNS India to invest $7.4 billion on capacity expansion, value addition
ArcelorMittal and Nippon Steel's joint venture, AMNS India, will invest $7.4bn in capacity expansion and increased value-added capabilities. The investment includes increasing the Hazira-based plant's upstream capacity to 15 million tonnes by 2026, alongside increased downstream facilities costing $1bn to meet rising demand from automobiles. The 9 million-tonne-per-year capacity plant will also establish slurry pipelines to link its mines with its beneficiation plants. AMNS India's Q1 sales increased by nearly 6% while crude steel production rose by 9%, and earning before interest, tax, depreciation and amortisation more than doubled year on year.
Hydro power firms could take financial hit due to new levy by Himachal Pradesh
Hydropower firms may face rising costs after the introduction of a new water usage fee in March in the state of Himachal Pradesh. Firms including Greenko, Statkraft, JSW and GMR will be affected and will need to pay for the water that flows through their plants to generate electricity.
NTPC Renewable Energy to supply 1,300 MW clean power to Greenko
NTPC Renewable Energy Ltd, a wholly-owned subsidiary of NTPC Green Energy, has signed a term sheet with Greenko ZeroC (A Greenko Group company) on March 28, 2023, to supply 1,300 MW round-the-clock RE Power for powering Greenko's upcoming green ammonia plant at Kakinada, a statement said.
Greenko Energy to prepay bonds worth $500 million
This development comes just days after it fully redeemed the entire outstanding $435 million bonds, due for maturity in March, having refinanced them through a bridge loan from global banks JP Morgan, Barclays, DBS Bank, among others, amid hardening rates, ET reported on February 22. It paid investors in full their principal amount together with accrued and unpaid interest.
Greenko uses bridge loan to refinance its overseas bonds
It paid investors in full their principal amount together with accrued and unpaid interest. The company refinanced the bond with a similar size bridge loan from half a dozen banks including Barclays and DBS Bank, three sources said.
Greenko to supply 250K tonnes green ammonia to Germany’s Uniper, 1st Indian co to start exports from 2025
The two firms on Tuesday inked a Memorandum of Understanding (MoU) and Heads of Terms agreement for exclusive negotiations to supply 250,000 tonnes per annum of green ammonia to Uniper. Although not specified, sources in the know said the offtake agreement is for 8-10 years, starting 2025.
JSW, Greenko, Adani, Tata tapped for PTC India stake
The promoters - NTPC, NHPC, Power Finance Corp and Power Grid Corp of India - hold a combined stake of around 16% in PTC India. Damodar Valley Corp, which owns a 3.3% ownership, has also decided to divest its shareholding.
Greenko Group will invest Rs 10K crore to set up pumped storage project in MP
The infirm renewable electricity stored in the PSP project during lean demand hours shall be later despatched to help meet the state’s evolving peak power demand thus resulting in considerable cost savings. Besides, the PSP project shall also enable MP state to meet its statutory RPO (Renewable Power Obligation) and the recently notified ESO (Energy Storage Obligation) targets.
Greenko Group emerges lowest bidder for NTPC's 3000 MWh energy storage tender
Hyderabad-based Greenko Group has emerged as the lowest bidder in the world’s first and largest technology agnostic storage tender from NTPC Renewable Energy Limited (NTPC REL), the renewable arm of NTPC Limited. Greenko is backed by GIC Holdings Pte Ltd, Abu Dhabi Investment Authority and Japan’s ORIX Corp.
Serentica Renewables partners with Greenko for 1500 MWhr of storage capacity
As part of this partnership, Serentica will leverage Greenko’s energy storage capacity from its upcoming Off Stream Closed Loop Pumped Storage Projects (OCPSP) at Pinnapuram in Andhra Pradesh and Gandhi Sagar in Madhya Pradesh, said a company statement.
Keppel Infrastructure partners Greenko for green ammonia
The MoU will explore the feasibility of jointly developing a production facility which can produce at least 250,000 tonnes of green ammonia per year, the companies said today. Keppel Infrastructure (KI) is a wholly-owned subsidiary of Keppel Corporation, a Singapore flagship multinational company providing solutions for sustainable urbanisation.
Greenko co-founder Mahesh Kolli keen to return to London market
The company was listed on the Alternative Investment Market of the London Stock Exchange between 2007 and 2018. "We would at some point be keen to come back to markets like London," Greenko co-founder Mahesh Kolli said at the Reuters IMPACT climate conference in London on Tuesday.
Greenko to develop up to 400 MW green capacity for Hindalco's aluminium smelter in Odisha
The project will be set up as a captive generation facility under a 25-year offtake arrangement to supply power to Hindalco's Aditya aluminium smelter in Odisha, enabling reduction of CO2 emissions by 6,80,000 tonnes annually, Greenko said without sharing any financial details of the deal.
ArcelorMittal Nippon Steel India announces Rs 1,000 crore additional investment in Andhra
The planned expansion will increase pellet production capacity at Vizag by 35 per cent to 11 MT from 8 MT.
Greenko to supply green power to ArcelorMittal, Ayana Renewable, 3 states from Kurnool plant
The plant which is being set up at a cost of USD 3 billion is the world's largest renewable energy storage project. Global steel giant ArcelorMittal has made an investment of around USD 600 million for 1,000 MW capacity of the project.
Green hydrogen to be a focus area: Actis PE
Green hydrogen is produced by splitting water into hydrogen and oxygen using electrolyzers. Over the past few months, several Indian companies including Reliance Industries, Renew Power, Indian Oil Corporation, Adani Group, and Greenko Group have announced plans in this segment.
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