Greenko-Keppel sign Hydrogen MoU with India to export green energy to Singapore from 2025
India will for the first-time export green energy from 2025, with the first cargo going to a Singapore power plant under an MoU signed by an India-based dispatchable renewables company and Singapore's energy business here.
The MoU to explore opportunities in green hydrogen potential in India will see Greenko group and Singapore's Keppel Infrastructure working towards a 250,000 tonne per annum contract to be supplied to Keppel's new 600Mw power plant in Singapore.
Further, the agreement for the export of green ammonia would also expand to cover bunker fuel through the Keppel network in Singapore's network of bunker fuel supplies to ships, said Mahesh Kolli, President and Joint Managing Director of Greenko Group.Likewise, Greenko's wide range of investments includes USD 5 billion in the storage of carbon-free green hydrogen energy across India, said Kolli.
"India will be exporting energy for the first time from 2025," said Kolli, after Greenko and Keppel Infrastructure signed the MoU on the sidelines of the Singapore International Energy Week.
Elaborating, Kolli said Greenko would participate in green hydrogen exports from 2025-26 onwards, estimating global demand of 50 million tonnes a year globally, including 15 million tonnes replacing bunkers fuels in ships.
The green ammonia will fuel newly built ships, including a fleet ordered by the international shipping group Maersk.
"This is the first time we are making lowest cost carbon-free energy which means this energy is of high quality," he stressed.
Last month, Greenko signed an agreement to supply one million tonnes a year of green ammonia supply to South Korean steel and power producer, Posco. The delivery is also expected from 2025-26 onwards.
In total, Greenko is planning to produce close to three million tonnes of green ammonia, which will also cover domestic demand, he said.
Greenko's green ammonia will help reduce India's imports of about six million tonnes of ammonia and urea, he added.
The Greenko-Keppel MoU was virtually witnessed by Petroleum and Natural Gas Minister Hardeep Singh Puri and Singapore's Trade and Industry Minister Gan Kim Yong.
Welcoming the MoU, Puri said, "Over the last few years, India has developed unparalleled strength in renewable paths, which acts as a catalyst in producing green hydrogen at competitive prices.
"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."