Sembcorp inks deal with Japanese firms to export green ammonia from India
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Singapore's Sembcorp Industries said its green hydrogen unit had partnered with two Japanese firms to supply green ammonia produced in India to Japan, as the company moves to strengthen its position as a major green energy supplier.
Sembcorp Green Hydrogen Pte, has signed a memorandum of understanding with Japanese conglomerate Sojitz Corp and energy major Kyushu Electric Power for potential opportunities for green ammonia production, Sembcorp said on Monday.
"With green ammonia as a critical energy source to decarbonise Japan's power supply mix, the partnership will support the (Japanese) government's goal to achieve net zero by 2050," the firm, backed by state-owned investor Temasek Holdings, said in a statement.
Last month, Sembcorp had said it would invest about S$10.5 billion ($7.88 billion), or about 75% of its total investments in 2024-2028, to support renewables growth as it aimed to halve carbon emissions by 2028.
The agreement will also expand Sembcorp's footprint in India where it already has a gross renewable portfolio of 3.7 giga-watts (GW), it added.
($1 = 1.3319 Singapore dollars)
.jpg)
