State-owned GAIL (India) and AM Green B.V. (AMG) have signed an memorandum of understanding to jointly explore setting up of solar/wind hybrid renewable projects up to 2.5 GW across the country.
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The two entities envisage to undertake studies for long-term supply of around 350 KTA carbon dioxide generated by GAIL in its gas processing plants to produce environmental friendly eMethanol that can reduce carbon emissions and promote a circular economy. GAIL will have an equity option to invest in the proposed eMethanol project, they said in a release on Friday.
AMG is a part of the AM Green Group promoted by Greenko founders. 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. GAIL Executive Director (Business Development and Exploration and Production) Sumit Kishore and AM Green Group President Mahesh Kolli signed the MoU in presence of GAIL Director (Business Development) Rajeev Singhal.
“The production of green methanol shall also help in decarbonization of hard to abate sectors like shipping, steel, cement, etc,” Mr. Kolli said.