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ReNew Energy Global plc partners with JERA to evaluate Joint Development of Green Ammonia Project in India. The partnership aims to produce 100,000 tons of green ammonia annually by 2030 using 500 MW of renewable energy. This collaboration aligns with India's National Green Hydrogen Mission and Japan's clean energy goals, showcasing a commitment to decarbonization and sustainability.
ReNew Energy Global plc collabora con JERA per valutare lo sviluppo congiunto di un progetto di ammoniaca verde in India. La partnership mira a produrre annualmente 100.000 tonnellate di ammoniaca verde entro il 2030 utilizzando 500 MW di energia rinnovabile. Questa collaborazione è in linea con la Missione Nazionale dell'India per l'Idrogeno Verde e gli obiettivi di energia pulita del Giappone, dimostrando un impegno verso la decarbonizzazione e la sostenibilità.
ReNew Energy Global plc se asocia con JERA para evaluar el Desarrollo Conjunto de un Proyecto de Amoníaco Verde en India. La asociación tiene como objetivo producir 100.000 toneladas de amoníaco verde anualmente para 2030 utilizando 500 MW de energía renovable. Esta colaboración se alinea con la Misión Nacional de Hidrógeno Verde de la India y los objetivos de energía limpia de Japón, mostrando un compromiso con la descarbonización y la sostenibilidad.
ReNew Energy Global plc는 JERA와 함께 인도에서 그린 암모니아 프로젝트의 공동 개발을 평가하기 위해 파트너십을 맺었습니다. 이 파트너십은 2030년까지 연간 100,000톤의 그린 암모니아를 500MW의 재생 에너지를 사용하여 생산하는 것을 목표로 합니다. 이 협력은 인도의 국가 그린 수소 미션과 일본의 청정 에너지 목표와 일치하며, 탈탄소화와 지속 가능성에 대한 약속을 보여줍니다.
ReNew Energy Global plc s'associe à JERA pour évaluer le développement conjoint d'un projet d'ammoniac vert en Inde. Le partenariat vise à produire annuellement 100 000 tonnes d'ammoniac vert d'ici 2030 en utilisant 500 MW d'énergie renouvelable. Cette collaboration s'aligne sur la Mission Nationale de l'Hydrogène Vert de l'Inde et les objectifs d'énergie propre du Japon, témoignant d'un engagement envers la décarbonation et la durabilité.
ReNew Energy Global plc geht eine Partnerschaft mit JERA ein, um die gemeinsame Entwicklung eines Grünen Ammoniak-Projekts in Indien zu bewerten. Die Partnerschaft zielt darauf ab, bis 2030 jährlich 100.000 Tonnen grünes Ammoniak mit 500 MW erneuerbarer Energie zu produzieren. Diese Zusammenarbeit steht im Einklang mit Indiens Nationaler Grüner Wasserstoff-Mission und Japans Zielen für saubere Energie, was ein Engagement für Dekarbonisierung und Nachhaltigkeit zeigt.
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Insights
The collaboration between ReNew Energy and JERA Co., Inc to develop a green ammonia project in India represents a significant stride in renewable energy sector. Green ammonia, as a product, stands out because of its dual capacity as a clean energy carrier and as a potential substitute for fossil fuel-based ammonia in various industries, including agriculture and manufacturing. This synergy has potential implications for the energy sector, specifically for renewable energy adoption and the emerging green hydrogen market. From an investor's perspective, the use of 500 MW of renewable energy to produce green hydrogen for ammonia production underlines a considerable scale of operation. Moreover, the capacity target of 100,000 tons annually by 2030 could position the venture to take a significant share of the market, especially considering the Indian government's ambition to become a global hub for green hydrogen. However, it's important to note that the project's success hinges on technological advancements, cost competitiveness and regulatory support. The long-term nature of the project and the nascent stage of the green hydrogen market mean that actual financial returns could be years away and the investment may carry a higher risk profile due to market and technological uncertainties.
The joint study focusing on the commercial viability of the project is a pivotal facet for investors to consider. The green energy sector, particularly green ammonia, is heavily reliant on advancements in technology and cost reductions to be truly competitive against conventional energy resources. Investors should monitor the progress of this joint study as it will provide key insights into the expected return on investment and the timeframe for profitability. Additionally, the potential offtake agreement with JERA could provide a substantial demand base in Japan, which is a positive indicator of market demand for green ammonia. However, the broader market dynamics, such as government policies, global energy prices and technological innovation, will significantly influence the project's market potential. The project's alignment with the Indian National Green Hydrogen Mission and Japan's clean energy goals may afford it a degree of insulation from policy shifts. But, as with all energy projects, the geopolitical landscape will play a role in its long-term viability and profitability.
GURGAON, India--(BUSINESS WIRE)--
ReNew Energy Global plc (“ReNew” or “the Company”) (Nasdaq: RNW, RNWWW), India’s leading renewable energy company, said on Thursday that it has signed an initial agreement with JERA Co., Inc (“JERA”), Japan’s largest power generation company, to jointly evaluate development of a green ammonia production project in India.
Under the agreement, ReNew, through its subsidiary, ReNew E-Fuels Private Limited, and JERA will jointly evaluate development of a green ammonia production project in Paradip, Odisha. The project will utilize approximately 500 MW of high-capacity utilization 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. There will be a joint study to evaluate the commercial viability of the project.
The two companies have built a strong relationship during the past seven years and the project will leverage ReNew's proven capabilities in renewable energy development and solutioning, and JERA's expertise in building full value chains.
Sumant Sinha, Founder, Chairman & 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 & 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.”
This partnership between the two companies aligns with India's ambitious National Green Hydrogen Mission and Japan's clean energy transition goals. 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. The Government of Japan is planning new initiatives to accelerate the transition towards clean energy. Both companies see India as a country with high potential for both solar and wind power.
About ReNew:
ReNew is a leading decarbonization solutions Company listed on Nasdaq (Nasdaq: RNW, RNWWW). ReNew has set up 10 GW of clean energy assets and has a portfolio of over 13.5 GW on a gross basis as of March 31, 2023, which is one of the largest globally. In addition to being a major independent power producer in India, ReNew provides end-to-end solutions in a just and inclusive manner in the areas of clean energy, value-added energy offerings through digitalization, storage, and carbon markets that increasingly are integral to addressing climate change. For more information, visit renew.com and follow us on LinkedIn, Facebook, Twitter and Instagram.
About JERA:
JERA was created through the consolidation of the fuel and thermal power departments of the Tokyo Electric Power Company and the Chubu Electric Power Company. The company was established with the concurrent aims of creating an energy company capable of competing in the global energy market and providing a stable supply of globally competitive energy, all while increasing corporate value.
Investor Enquiries
ReNew | Nathan Judge, Nitin Vaid | ir@renew.com
Source: ReNew Energy Global plc
FAQ
What is the partnership between ReNew Energy Global plc and JERA about?
ReNew Energy Global plc partners with JERA to jointly evaluate the development of a green ammonia production project in India.
What is the production capacity of the green ammonia project by 2030?
The project is likely to have a production capacity of approximately 100,000 tons of green ammonia annually by 2030.
Which renewable energy source will be utilized for the green ammonia project?
Approximately 500 MW of high-capacity utilization factor (CUF) renewable energy will be used for the project.
What is the significance of the partnership between ReNew Energy Global plc and JERA?
The partnership aligns with India's National Green Hydrogen Mission and Japan's clean energy transition goals, showcasing a commitment to decarbonization and sustainability.
