RWE and AM Green Ammonia sign Memorandum of Understanding to supply up to 250,000 tonnes annually of RFNBO-compliant ammonia from India [Yahoo! Finance]
RWE AG ORD S/ADR (RWEOY)
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Source: Yahoo! Finance
The green ammonia produced at AM Green Ammonia's sites in India meets EU standards for Renewable Fuels from Non-Biological Origin (RFNBO), as defined in the RED III ESSEN, Germany and HYDERABAD, India Sept. 18, 2024 /PRNewswire/ -- RWE Supply & Trading has signed a Memorandum of Understanding (MoU) with AM Green Ammonia B.V. (AMG) for the long-term supply of green ammonia from its plants based in India . It outlines the supply of up to 250,000 tonnes of green ammonia per year. The ammonia will be sourced from AMG's production sites in Kakinada and Tuticorin, India . Initially, 50,000 tonnes of green ammonia will be produced at the Kakinada site, with the remaining volume of up to 200,000 tonnes to be sourced from the Tuticorin facility. AMG is a subsidiary of the AM Green Group. AMG's ammonia manufacturing facilities will be powered entirely by carbon-free energy sources such as solar, wind, and hydroelectric power. The produced ammonia will meet EU standards for Renewable Fuels
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