Uniper signss long-term agreement with India's AM Green for green ammonia

Uniper, a German state-owned utility, announced on Monday that it had signed a long-term binding agreement with India's AM Green for the purchase of up to 500,000 tonnes of green ammonia each year.

The agreement, which was signed during German Chancellor?Merz?s first visit to India reflects efforts?to foster closer economic cooperation between world's third and fourth largest economies at a period of increasing geopolitical tensions around the globe.

Uniper CEO Michael Lewis stated in a joint press release that "this agreement with AM Green is a key building block" of our strategy to give our customers reliable access to low-carbon and renewable molecules.

Uniper has said that the first shipment could be made as soon as 2028.

The Indian Prime Minister Narendra Modi welcomed the agreement during a press conference on Monday with German Chancellor Frederick?Merz.

The companies stated in a joint press release that the contract was "an important milestone" in India's efforts to become a world leader in green hydrogen and ammonia exports. (Reporting and editing by Friederike H. Heine, Christoph Steitz)

(source: Reuters)