ReNew partners with JERA to evaluate joint development of green ammonia project in India

Under the National Green Hydrogen Mission, the Indian government aims to produce 5 million tons of green hydrogen per year by 2030, in an effort to become the world's largest green hydrogen hub.

Gurugram-based ReNew Energy Global plc (Nasdaq: RNW, RNWWW) has signed an initial agreement with JERA Co., Japan’s largest power generation company, to jointly evaluate the development of a green ammonia production project in India, the company said in a statement on April 18.

Under the agreement, ReNew, through its subsidiary, ReNew E-Fuels Private Limited, and JERA will jointly evaluate the development of a green ammonia production project in Paradip, Odisha. The project will utilise approximately 500 MW of high-capacity utilisation factor (CUF) renewable energy to produce green hydrogen, a key feedstock for green ammonia. The project is likely to have a production capacity of approximately 100,000 tons of green ammonia annually by 2030. JERA will have the right to offtake this green ammonia for Japan.

On April 11, Moneycontrol was the first to report that ReNew will now take up green hydrogen projects in India and that the company’s overseas plans may have to wait longer.

Sumant Sinha, founder, chairman and CEO, ReNew said, "This collaboration marks an exciting time for both ReNew and JERA, and demonstrates our commitment in accelerating the clean energy transition. Green ammonia holds immense potential in reducing carbon emissions and the project, once ready, will contribute to a cleaner future and support India's National Green Hydrogen Mission.”

Yukio Kani, Global CEO and Chair of JERA said, "Since 2017, JERA has maintained a strong partnership with ReNew, and we are pleased to expand this collaboration to the next level: the first green hydrogen and ammonia development project for JERA. This joint development agreement represents a significant milestone and an exciting advancement moving us one step closer to realizing decarbonized society, with a focus on the sustainability, affordability, and stability of future energy.”

ReNew said there will be a joint study to evaluate the commercial viability of the project.

Under the National Green Hydrogen Mission, the Indian government aims to produce 5 million tons of green hydrogen per year by 2030, in an effort to become the world's largest green hydrogen hub. At the same time, the government of Japan is planning new initiatives to accelerate the transition towards clean energy.