Japanese investment giant Mitsui & Co. has signed a Memorandum of Understanding (MoU) with AM Green, a platform backed by the founders of Greenko Group, to collaborate on green energy initiatives. The partnership will explore projects in green ammonia, bio-fuels, and metals. Mitsui is also considering a potential equity investment in AM Green’s holding company and its low-carbon aluminum venture.
AM Green is currently developing a 1 million tonnes per annum (MTPA) primary aluminum smelter and a 2 MTPA alumina refinery in Andhra Pradesh. Unlike traditional coal-based facilities, these plants will be powered entirely by renewable energy—solar and wind—firmed up by pumped hydro storage. The project is part of a massive $20 billion capital expenditure plan by AM Green to enable large-scale industrial decarbonization.
By 2030, the company also aims to produce 5 MTPA of green ammonia, which would satisfy roughly one-fifth of India’s national green hydrogen production target. Production for this $1.5 billion project (₹12,500 crore) is slated to begin in 2026 at a repurposed urea facility in Kakinada.