GAIL, AM Green Collaborate For E-Methanol Production, Hybrid Renewable Energy Projects
GAIL India has partnered with Netherlands-based AM Green to supply 350 kilotons of CO2 per year for eMethanol production.
GAIL India Ltd. has partnered with Netherlands-based AM Green B.V. for the long-term supply of carbon dioxide for eMethanol production and to collaborate on hybrid renewable energy projects, according to a press release on the BSE.
The memorandum of understanding was signed in the presence of GAIL Director of Business Development Rajeev Singhal, its Executive Director of Business Development and Exploration and Production Sumit Kishore, and AM Green's Group President Mahesh Kolli.
“The signing of this MOU with AM Green underscores our commitment to pioneering sustainable energy solutions. By facilitating the supply of CO2 for eMethanol production, we are taking a proactive approach to reduce carbon emissions and support alternative fuel development," Rajeev Singhal said.
According to the MoU, both the parties will partner to undertake studies for long-term supply of around 350 kilotons per annum of CO2 generated by GAIL in its gas processing plants to produce eMethanol. The press release described eMethanol as an "environmentally friendly fuel that can reduce carbon emissions and promote a circular economy".
GAIL shall also have an equity option to invest in the proposed eMethanol project, so as to ensure a "strategic partnership" that supports the companies' joint objective to promote sustainable energy solutions.
The two companies are also planning to work together on settting up solar/wind hybrid renewable projects up to 2.5 gigawatt across India.
The hybrid solar/wind projects combined with Greenko’s upcoming pump storage projects are poised to supply round-the-clock power to the end users including the proposed eMethanol project, the press release said.
“We are delighted to partner with GAIL on one of the world’s largest carbon-free, renewable energy supply contracts. 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 decarbonization globally," Kohli said.
He said that the production of green methanol will also help in decarbonisation of hard to abate sectors like shipping, steel, and cement.
