HYDERABAD, India, Jan. 24, 2024 /PRNewswire/ -- Envision Energy International, and AM Green, a hydrogen and green ammonia venture wholly owned and controlled by the founders of Greenko Group, signed a Memorandum of Understanding (MOU) to partner in the manufacture of wind turbines for AM Green's clean energy projects in India and to collaborate on green hydrogen projects. The MOU was signed during the World Economic Forum's Annual Summit in Davos, Switzerland.
AM Green and Envision will harness complementary capabilities to manufacture, supply and service wind turbines in India specific to AM Green's wind turbine requirements in the country. AM Green, through its customers, will look to commit to offtake of at least 2GW of capacity per year over the next three years. The wind turbines will supply energy to produce renewable green molecules.
Mahesh Kolli, President, AM Green said "This partnership is bringing together two industry specialists to harness their manufacturing strengths to create sustainable business ventures for the long term. We are excited about the opportunity ahead in global decarbonisation."
The partnership is part of AM Green's larger efforts to advance the development of a secure supply chain for high-quality, cost-effective wind turbines in India. Through such partnerships, AM Green aims to achieve the most economically efficient 24x7 power supply for its green molecule plants across India.
AM Green and Envision will also work jointly in development of green hydrogen projects and develop net zero industrial parks. In addition, both companies will draw on their technical expertise to jointly develop a set of applicable green hydrogen industrial standards.
Mr. Kane Xu, Global VP and Country President – India, at Envision said: "Envision is very pleased to partner with AM Green which is part of the Greenko Group, one of India's leading renewable energy conglomerates. Both Envision and AM Green share a similar vision for global decarbonization. This exciting partnership will also provide cutting edge solutions to positively impact India's aggressive net zero and green energy goals."
About AM Green
AM Green has been incorporated by the founders of Hyderabad-based Greenko Group - Anil Chalamalasetty and Mahesh Kolli. With their strength in renewable energy and storage as a service model and track record of energy entrepreneurship, AM Green aims to become one of the lowest cost producers of green hydrogen, green ammonia and other green molecules in the world.
In India, AM Green is developing production capabilities for green molecules (green hydrogen, green ammonia, biofuels, green caustic soda, e-methanol) for decarbonization in hard to abate industries. The venture will also set up an international renewables and storage business and a JV for making electrolysers with John Cockerill of Belgium, an existing partner of Greenko Group.
About Envision
Envision Group is a world leading green technology company. With the mission of "solving the challenges for a sustainable future", Envision designs, sells and operates smart wind turbines and smart energy storage system through Envision Energy, AIoT-powered batteries through AESC and the world's largest AIoT operating system through Univers. Envision also manages the ten billion RMB Envision-Sequoia Capital Carbon-Neutral Fund and owns Envision Virgin Racing Formula E team.
For AM Green India Pvt Ltd:
Media Relations
Mr Suheil Md. Imtiaz
Senior Manager, Public Affairs & Strategic Communications
Email: suheil.m@greenkogroup.com
