DSK Legal Advised ReNew Energy On Collaboration With JERA For Green Ammonia Project In India
In a significant move, DSK Legal has advised ReNew Energy Global plc (ReNew) India’s leading renewable energy company,
DSK Legal Advised ReNew Energy On Collaboration With JERA For Green Ammonia Project In India
In a significant move, DSK Legal has advised ReNew Energy Global plc (ReNew) India’s leading renewable energy company, on its collaboration with JERA Co., Inc (JERA) Japan’s largest power generation company, to evaluate the development of a green ammonia production project in India.
Under the terms of the agreement, ReNew, through its subsidiary ReNew E-Fuels Private Limited, will join hands with JERA to assess the feasibility of establishing a green ammonia production facility in Paradip, Odisha. The project, leveraging approximately 500 MW of high-capacity utilization factor (CUF) renewable energy, aims to produce green hydrogen, a pivotal component for green ammonia.
This strategic alliance is poised to revolutionize the renewable energy landscape, with the project projected to yield approximately 100,000 tons of green ammonia annually by 2030. Notably, JERA will have the exclusive right to procure this green ammonia for Japan, highlighting the global impact of the collaboration.
The initiative aligns seamlessly with India's ambitious National Green Hydrogen Mission and Japan's commitment to clean energy transitions. India aims to produce 5 million tons of green hydrogen annually by 2030, positioning itself as a frontrunner in the global green hydrogen market.
ReNew is a prominent de-carbonization solutions provider, having established 10 GW of clean energy assets and boasting a gross portfolio exceeding 13.5 GW as of March 31, 2023, making it one of the largest globally. Meanwhile, JERA, Japan's largest power company, was formed by merging the fuel and thermal power divisions of Tokyo Electric Power Company and Chubu Electric Power Company.
Sumant Sinha, Founder, Chairman and CEO, ReNew said, “This collaboration marks an exciting time for both ReNew and JERA, and demonstrates our commitment in accelerating the clean energy transition. Green ammonia holds immense potential in reducing carbon emissions and the project, once ready, will contribute to a cleaner future and support India's National Green Hydrogen Mission.”
The core team at DSK Legal representing ReNew comprised of Aparajit Bhattacharya, Anjan Dasgupta and Avinash Kumar Khard (Partners). Supported by a dedicated team of legal professionals, including Shruti Dogra (Associate Partner), Shubhi Ameriya (Principal Associate) and Mala Mehto (Senior Associate) from the corporate/equity investment practice. While Supriya Upadhyayula (Associate) and Sanika Dalvi (Associate) have been supporting the partners from the projects/energy practice. Aparajit Bhattacharya acted as the relationship partner for ReNew at the firm, and Anjan Dasgupta acted as the lead engagement partner for this transaction.
Allen & Overy, Tokyo, is representing JERA on the transaction.
This collaboration marks a significant milestone in the renewable energy sector, showcasing the potential for international partnerships to drive sustainable development and combat climate change.