BASF, AM Green Partner on Renewable Energy-Based Chemicals in India
Oct. 28, 2024
German chemical giant signs agreement to explore low-carbon production and purchase 100,000 tons of green ammonia annually from Indian renewable energy company.
Source BASF
BASF and India’s AM Green B.V. said Oct. 28 they have entered into an agreement to jointly evaluate and develop business opportunities for low-carbon chemicals produced exclusively with renewable energy, and the corresponding value chains in India.
BASF
From left: Gautam Reddy K, CEO, AM Green Ammonia; Mahesh Kolli, Group President, AM Green; Dr. Markus Kamieth, chairman of the board of executive directors of BASF SE and Alexander Gerding, managing director, BASF India and head, BASF Group Companies India.
BASF CEO Markus Kamieth and Mahesh Kolli, group president of AM Green, signed the agreement during the Asia-Pacific Conference of German Business 2024 in New Delhi, India.
Under the agreement, BASF and AM Green plan 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 BASF to purchase 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 as defined in the Renewable Energy Directive. Some of AM Green's facilities have already been pre-certified for compliance through the CertifHy voluntary certification scheme. Pre-certification for AM Green's other facilities is currently underway.
“We are convinced that India is the right place to explore low-carbon chemical production together with our partner AM Green," Kamieth said.
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