Mitsui & AM Green join hands for green fuel

AM Green, backed by the founders of Greenko Group, is joining hands with Japanese trading and investment company Mitsui & Co. to explore strategic collaboration across various energy transition initiatives like green ammonia, bio-fuels and metals. An MoU signed by both sides on Thursday also seeks potential equity investment in AM Green’s holding company that houses these businesses and also in the low carbon aluminium project that AM Green has started work on and will also include specific offtake rights by Mitsui and supply of auxiliary materials for the green aluminium smelter and alumina refinery, the companies said in a statement on Thursday. The value chain of metals involves raw materials like bauxite, chemicals, metals trading, shipping and port handling.This is the third major industrial partnership that Hyderabad based AM Green has struck after Rio Tinto and Petronas of Malaysia. AM Green, via its wholly owned subsidiary, AM Green Aluminium Metals and Materials Green Metals”), is building a 1 million tonnes per annum (MTPA) primary aluminum smelter and 2 MTPA alumina refining and mining operations. In November 2025, AM Green signed an MoU with Andhra Pradesh (AP) government to set up 1 MTPA green aluminium complex in the state.The first phase of the greenfield venture, expected by 2030, will be targeting 500,000 tonnes per annum of primary aluminium smelting at a port location in South India. The total capex planned for the project will be $5-$7 billion in phases. The principal cost is in power. Traditionally coal-based smelters have been firing up these ventures, but AM Green is planning to power both the aluminum smelter and alumina refinery by renewable wind and solar firmed up by pumped hydro and storage.Earlier in May, Coal India signed a MoU to supply 4.5 GW of renewable power to AM Green for its various verticals including AM Green Metals.“AM Green is building globally competitive platforms across molecules and materials to enable industrial decarbonization at scale,” said Mahesh Kolli, Founder Greenko Group & AM Green. “The collaboration will accelerate low-carbon aluminium and expand market access for a wider set of green products.”Other than green metals, AM Green is pushing its ambitious goal to develop 5 million tonnes per annum (MTPA) of green ammonia production capacity also by 2030, equivalent to about 1,000,000 tonnes of green hydrogen to meet the rising global demand for green fuels, with initial production starting in Kakinada. This represents one-fifth of India's green hydrogen production target.The production is expected to begin in the second half of 2026. The Rs 12,500-crore project will include a green hydrogen generation unit and an ammonia conversion plant within a repurposed urea facility the company acquired in 2025.Both Kolli and Anil Chalamalasetty, the founders of Greenko, have established AM Green as a platform for clean energy, materials, molecules and intelligence. AM Green is also the holding company that owns 27% in Greenko which is now a pure green power utility company, as well as each of the various business verticals. In 2023, Petronas arm Gentari led a $2 billion investment along with GIC of Singapore and the founders of Greenko Energy Holdings in the green ammonia business unit.Such scaled ammonia facilities will also lead to 1 MTPA of green hydrogen produced through 7 GW of electrolysers that will split water into hydrogen and oxygen. A similar 7 GW of renewable energy along with 42 gigawatt hours of pumped storage facility will power those electrolysers round-the-clock to ensure firm, dependable and schedulable supply of green electricity. AM Green has lined up a major capex push of $20 billion towards AM Green.In parallel, Greenko has a near-term operational renewable energy capacity of over 12 GW across solar, wind and hydro and is building 100 GWh of single cycle pumped hydro storage capacity by 2030 pan India.