According to an MoU signed on Tuesday by an Indian dispatchable renewables company and Singapore’s energy sector, India will begin exporting green energy in 2025, with the first shipments going to a power plant in Singapore.
The Greenko group and Singapore’s Keppel Infrastructure will work toward a 250,000 tonne per year contract to supply hydrogen to Keppel’s new 600Mw power plant in Singapore as part of the MoU to investigate options in green hydrogen potential in India.
Mahesh Kolli, President and Joint Managing Director of Greenko Group, added that the contract for the export of green ammonia would also be expanded to encompass bunker fuel through the Keppel network in Singapore’s network of bunker fuel supply to ships.
In addition, Greenko has invested $5 billion in the storage of green hydrogen energy that is carbon-free throughout India, according to Kolli.
Following the signing of the Memorandum of Understanding on the fringes of the Singapore International Electricity Week, which got underway on Tuesday, Greenko and Keppel Infrastructure announced that India would begin exporting energy as of 2025.
Kolli provided more details, stating that Greenko would take part in green hydrogen exports starting in 2025–2026 and estimating worldwide demand of 50 million tonnes required, 15 million tonnes are used to replace bunker fuel in ships.
The newly constructed ships, including a fleet ordered by the global shipping company Maersk, will be powered by the green ammonia.
“This is the first time we are making lowest cost carbon-free energy which means this energy is of high quality,” he stressed.
Greenko and South Korean steel and power manufacturer Posco agreed to a deal last month under which Greenko will provide one million tonnes of green ammonia annually. The delivery is also anticipated to begin in 2025 or 2026.
According to him, Greenko intends to create over three million tonnes of green ammonia overall, enough to meet domestic demand.
According to him, Greenko’s green ammonia will lessen India’s imports of urea and ammonia, which total roughly six million tonnes.
Minister of Petroleum and Natural Gas Hardeep Singh Puri and Minister of Trade and Industry of Singapore Gan Kim Yong virtually observed the Greenko-Keppel MoU.
“I think the manner in which we have brought down the cost of solar power and I think is something that as appreciation and being applauded, applied throughout the world equally.”