AM Green wins H2Global’s Asian auction lot, secures €585 million ammonia purchase deal
Hyderabad/Hamburg, Sept 30 (TNT): Hyderabad-based AM Green Ammonia (India) Private Limited on Wednesday said that it has selected as the sole winner of the Asian lot in the H2Global auction, securing a long-term agreement under which Germany’s Hintco will purchase renewable ammonia worth a minimum of €585 million over 10 years.
The award follows a competitive bidding process conducted by Hintco GmbH, under which AM Green’s bid was ranked first among the submissions received.
Hintco may purchase additional volumes offered by the company using proceeds from the resale of green ammonia in the European market, the company said in a release.
The ammonia will be produced at AM Green’s Kakinada project, Phase 2, in Andhra Pradesh, where an existing natural gas-based ammonia and urea complex is being converted into a renewable ammonia production facility using alkaline electrolysis technology.
The facility will be powered by a round-the-clock renewable energy system backed by pumped-hydro storage, in accordance with European Union requirements.
First deliveries to Germany are expected in 2029, with shipments planned from Kakinada Seaports, located adjacent to the plant.
The agreement marks a significant step in AM Green’s plans to establish large-scale renewable ammonia production in India and supply green molecules to Germany and other European markets.
Timo Bollerhey, CEO of Hintco and co-founder of H2Global, said the auction results reflected the growing maturity of renewable ammonia projects.
He said the long-term purchase agreement would provide producers with greater certainty to invest while securing supplies for European buyers.
Markus Exenberger, Executive Director of the H2Global Foundation and co-founder of H2Global, said renewable ammonia could transport clean energy across continents to industries that cannot be fully electrified, helping develop resilient global clean-energy supply chains.
Mahesh Kolli, Group President and Joint Managing Director of AM Green, said the award validated the company’s ability to supply renewable ammonia at an industrial scale through a competitive bidding process.
He said the company planned to supply renewable ammonia to customers in Europe and Asia, supporting industrial decarbonisation.
Hintco said the full results of the H2Global tenders, covering the African, North American, South American, and Oceanian lots, would be published before the end of 2026.
Further details will be withheld until then to protect the integrity of the ongoing tender processes.
TNT TS
