GAIL (India) signs MoU with AM Green | Capital Market News

To develop renewable projects in India and support reduction in carbon footprint

GAIL (India) and AM Green B.V. (AMG) today signed a Memorandum of Understanding (MoU) to explore projects aimed at advancing sustainable energy solutions in India. The partnership focuses on the long-term supply of carbon dioxide (CO2) for eMethanol production and the exploration of hybrid renewable energy project across India.

In line with the MoU, both the parties envisage to undertake studies for long-term supply of around 350 KTA CO2 generated by GAIL in its gas processing plants to produce eMethanol, 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, ensuring a strategic partnership that supports both companies’ objectives in promoting sustainable energy solutions. Further, both the parties envision to jointly explore setting up of solar/wind hybrid renewable projects up to 2.5 GW 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.

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