India’s AM Green Ammonia is the sole Asian winner of the second H2Global auction, securing a €585m ($664m) contract to supply green hydrogen-based ammonia volumes to the European market for a decade.
It is only the second H2Global contract, which will see the German-backed institution buy the volumes from AM Green and resell them to European buyers while absorbing the price difference.
First H2Global deliveries to Germany are expected in 2029. Volumes covered by the contract have not been revealed.
“A long-term contract gives producers like AM Green the certainty to invest and secures reliable supply for European buyers,” said H2 Global co-founder Timo Bollerhey.
The ammonia will be produced at the second phase of the firm’s Kakinada project, which will be capable of producing 1.5 million tonnes per annum (mtpa) of green ammonia. Its first 0.5 mtpa phase is currently under construction and due to be online in 2027.
Group President of AM Green, Mahesh Kolli, said the contract positioned the firm as “the supplier of choice” for Europe.
“Winning through a binding competitive process is a strong validation of the readiness of our platform,” he said. “From Kakinada, we will deliver renewable ammonia to European and Asian customers, turning ambitious decarbonisation targets into real industrial emissions reductions.”
The company has already lined up deals with German energy firms Uniper and RWE for ammonia supply from the plant.
The contract is part of a wider €2.5bn ($2.8bn) H2 Global tender with budgets allocated for hydrogen volumes coming from North America, South America, Australia, Asia, and Africa.
Hintco, the company running the auctions, said it will publish full results of all the tenders before the end of this year.
The only project to secure a H2Global contract was Fertiglobe’s 100MW development in Egypt. It won a €397m ($451m) deal in 2024 to deliver 397,000 tonnes of green ammonia between 2027 and 2033.
