Keppel Infrastructure and Greenko have signed a memorandum of understanding (MOU) to jointly explore opportunities with green ammonia and renewable energies.
Keppel Infrastructure is a wholly-owned subsidiary of Keppel Corporation while Greenko Group is India’s leading energy transition company.
Green ammonia refers to the process of making ammonia, which is renewable and carbon-free. It is made with green hydrogen that comes from water electrolysis powered by renewable power.
The MOU, which was signed through the companies’ subsidiaries, seeks to meet the growing demand for low carbon energy in India, Singapore and around the world. It will see both companies collaborating to explore the feasibility of jointly developing a production facility.
The facility is said to be able to produce at least 250,000 tonnes of green ammonia annually. Keppel Infrastructure and Greenko will also jointly identify and evaluate a portfolio of solar and wind energy projects, up to an installed capacity of approximately 1.3 GW, complemented by pumped hydro-storage, to power the green ammonia production facility.
“Green ammonia, as a carbon-free fuel, and an energy storage medium, as well as a transportation vector for hydrogen, has the potential to play a pivotal role in the decarbonisation of the energy and heavy industry sectors. This MOU with Greenko further underlines Keppel’s strategy to be at the forefront of providing innovative, sustainable energy solutions to help the world combat climate change,” says Cindy Lim, CEO of Keppel Infrastructure.
“As part of the Keppel Group, which offers solutions for sustainable urbanisation, Keppel Infrastructure possesses a strong track record of developing and operating large-scale infrastructure projects,” she adds. “We look forward to working closely with our eco-system partners as we pursue scalable opportunities across the green ammonia supply chain and the related infrastructure, from production to transportation and delivery, including bunkering. This is in line with Keppel’s Vision 2030, which places sustainability at the core of the group’s strategy.”
Anil Kumar Chalamalasetty, CEO and managing director at Greenko says, “As the global energy transition efforts leveraging green hydrogen and derivatives gain speed, we are committed to Hon’ble PM Shri Modi Ji’s vision of India’s leadership in combating climate change, establishing the country as a reliable, sustainable source of the lowest cost green molecules and to catalyse India’s and the world’s decarbonisation.”
He adds: “The transformation of India from a carbon-based fossil energy importer to an exporter of renewable energy-derived products like green hydrogen, green ammonia, and other green molecules, is the cornerstone of Greenko’s strategy for future growth. Along with Greenko’s Intelligent Renewable Energy Storage Platform (IRESP) and foray into electrolyser manufacturing, partnerships like these with Keppel are key enabling aspects in an accelerated execution of this vision.”
The signing of the MOU was witnessed by Singapore’s Minister for Trade and Industry, Gan Kim Yong, as well as India’s Minister for Petroleum and Natural Gas Sri Hardeep Singh Puri, who joined the proceedings virtually.
Present at the signing was also Periasamy Kumaran, High Commissioner of India to Singapore; Loh Chin Hua, CEO of Keppel Corporation; Cindy Lim, CEO of Keppel Infrastructure; Anil Kumar Chalamalasetty CEO, managing director and founder of Greenko; and Mahesh Kolli, president, joint managing director and founder of Greenko.
Shares in Keppel Corporation closed 5 cents higher or 0.77% up at $6.59 on Oct 25.