German state-owned utility Uniper on Monday said it has signed a long-time binding agreement with India's AM Green to purchase up to 500,000 tons of green ammonia per year.
The deal, signed during German Chancellor Friedrich Merz's first visit to India, reflects efforts to foster closer economic cooperation between the world's third- and fourth-largest economies at a time of rising geopolitical tensions worldwide.
"This agreement with AM Green is a key building block in our strategy to provide our customers with reliable access to renewable and low carbon molecules at scale," Uniper CEO Michael Lewis said in a joint press release.
The first shipment is scheduled to take place as early as 2028, Uniper said.
Prime Minister Narendra Modi welcomed the agreement at a news conference with German Chancellor Friedrich Merz on Monday.
"The contract is an important milestone in India's quest of becoming a leading exporter of green hydrogen and green ammonia to the world," the companies said in the joint release.
Source Name : Economic Times