Malaysia-headed renewable energy developer Gentari Sdn Bhd (Gentari), via its wholly-owned subsidiary Gentari International Renewables Pte Ltd, has entered into an agreement with AM Green BV (AM Green) to jointly invest, in phases, into a green ammonia platform, AM Green Ammonia Holdings BV (AMG Ammonia).
AMG Ammonia was established by the founders of Greenko, one of India’s leading renewable energy companies. An affiliate of Singapore’s investment entity, GIC, is also an investor in AMG Ammonia.
AMG Ammonia is projected to produce 5 million tonnes per annum (MTPA) of green ammonia using round-the-clock renewable energy by 2030.
The platform aims to deliver green ammonia, as it is presently the most mature and stable form of transporting hydrogen.
The 5 MTPA of green ammonia produced is equivalent to approximately 1 MTPA of green hydrogen and would represent 20 percent of India’s target for green hydrogen production by 2030, or 10 percent of Europe’s target for imported renewable hydrogen.
World-scale platform
This size and capacity will place AMG Ammonia among the world’s pioneers in large-scale and cost-competitive green ammonia production.
The first export of green ammonia from this platform is targeted by late 2025 and aims to serve key OECD markets, such as Germany, Japan, and South Korea, as well as Singapore.
Gentari and AM Green both bring complementary capabilities across the green hydrogen value chain, including renewable energy, electrolyzers, and ammonia production and marketing capabilities.
The parties will mutually invest in AMG Ammonia, demonstrating full commitment to realize the platform’s potential and expand its presence in Asia Pacific and Europe.
Post-investment from Gentari, AM Green, and GIC, AMG Ammonia will be a fully funded platform for the targeted ammonia production plan.
The platform is expected to invest, in phases, into projects across different locations in India. This will ensure a competitive supply of hydrogen to the global market and will be key for manufacturing and exporting green hydrogen in the region.
Hydrogen hub
For Gentari, strong collaborations in its focus market of Malaysia and the broader Asia Pacific will be vital to delivering its global ambition of up to 1.2 MTPA in clean hydrogen by 2030.
As Gentari expands our portfolio of clean energy solutions in Malaysia, Asia Pacific, and beyond, we believe in the critical importance of industry-level collaborations that combine complementary strengths and unlock synergies. This partnership with AM Green and GIC is a testament to our commitment to accelerating green hydrogen adoption globally, to make an impact in the pursuit of a net zero future. In OECD, Southeast, and East Asian economies, green ammonia will address the decarbonization of industries such as power generation, through co-firing, as well as shipping, said Sushil Purohit, CEO of Gentari.
In Malaysia, the company sees strong potential for developing a local hydrogen economy.
To this end, Gentari has undertaken efforts to position Malaysia as a hydrogen export hub whereby its hydrogen ventures will support a comprehensive national roadmap that includes hydrogen as an energy transition lever for Malaysia.
These efforts include working with Sarawak’s SEDC Energy Sdn Bhd to jointly explore the state’s potential as a green hydrogen production hub.
At the same time, Gentari is also collaborating with PETRONAS and Tenaga Nasional Berhad to advance studies on green hydrogen development in Kerteh, Terengganu, and Pengerang, Johor towards the creation of a hydrogen economy in Malaysia.
We are delighted to partner with Gentari and GIC, to venture into the global low-carbon green economy. The commitment from Gentari and GIC underpins Prime Minister Modi’s vision for India to become a leader in the global energy transition. This strategic partnership will work to accelerate net zero targets of various industries and several OECD economies. Continuous focus on innovation combined with execution will ensure our venture, AM Green, remains ahead of others in becoming a global clean energy transition solutions platform, said Anil Chalamalasetty, Founder of Greenko Group and AM Green.
Gentari was advised by BofA Securities and Shardul Amarchand Mangaldas & Co. Completion of the transaction is subject to the fulfillment of customary condition precedents.
