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Green energy exports: $10-bn green ammonia project positions India as global clean-fuel supplier; Kakinada plant nears key milestone – The Times of India

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Green energy exports: -bn green ammonia project positions India as global clean-fuel supplier; Kakinada plant nears key milestone – The Times of India


A $10-billion green hydrogen and green ammonia project at Kakinada in Andhra Pradesh is set to cross a major construction milestone, reinforcing India’s ambition to emerge as a global supplier of clean energy to markets such as Germany, Japan and Singapore.The first major equipment erection ceremony of AM Green’s Green Hydrogen and Green Ammonia Complex will be held on January 17 and will be attended by Chief Minister N Chandrababu Naidu and Deputy Chief Minister Konidala Pawan Kalyan, state government officials said, PTI reported.Billed as one of the largest clean-energy investments in India to date, the project involves a total outlay of $10 billion and is expected to generate up to 8,000 jobs during the construction phase, besides substantial high-skill employment during operations and across allied sectors including renewable energy, logistics, storage and port services.AM Green is developing India’s first and the world’s largest green ammonia complex at Kakinada, with a planned capacity of 1.5 million tonnes per annum, through the brownfield conversion of an existing ammonia-urea facility. The project will be commissioned in phases, beginning with 0.5 million tonnes per annum by 2027, scaling up to 1 million tonnes by 2028 and reaching full capacity by 2030.Once operational, the facility will enable India’s first exports of green ammonia, which is increasingly being adopted globally as a clean shipping fuel, for power generation and as a carrier for green hydrogen.The integrated project spans 7.5 gigawatts of solar and wind capacity, 1,950 megawatts of electrolyser capacity and 2 gigawatts of round-the-clock renewable power, supported by pumped hydro storage, including India’s first such facility at Pinnapuram in Andhra Pradesh.AM Green has already signed long-term supply agreements with Germany-based utility Uniper and is in advanced discussions with potential buyers in Japan and Singapore, establishing India’s first green-energy export linkages with Europe and advanced Asian economies.The project is aligned with Andhra Pradesh’s Integrated Clean Energy Policy, 2024, which seeks to position the state as India’s primary hub for green hydrogen and green ammonia. Once fully commissioned, the facility is expected to mark a structural shift from energy import dependence towards clean-energy exports, placing Andhra Pradesh at the centre of the global green-energy value chain.AM Green, backed by the founders of the Greenko Group, is developing the project through AM Green Ammonia, a partnership involving Malaysia-based Gentari, Singapore’s sovereign wealth fund GIC and the Abu Dhabi Investment Authority. Construction at the Kakinada site is already under way, placing it among a limited set of large-scale green ammonia facilities globally that meet Renewable Fuels of Non-Biological Origin (RFNBO) standards.Beyond production, the project showcases an end-to-end clean-energy ecosystem within a single state, encompassing large-scale renewable generation, round-the-clock green power backed by storage, hydrogen and ammonia production, and port-based export infrastructure.AM Green has also moved to strengthen global linkages. In May last year, it announced a partnership with the Port of Rotterdam Authority to create a dedicated green-fuel corridor linking India with north-western Europe, aimed at enabling annual trade of up to 1 million tonnes of green fuels valued at nearly $1 billion. Earlier, it tied up with global logistics firm DP World to develop green fuel storage and export facilities in India and overseas.“This is not merely an industrial project, but a strategic step in positioning Andhra Pradesh and India as leaders in clean-energy exports and climate action,” the state government said.



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Asian stocks today: Markets inch higher mirroring Wall Street gains; Kospi jumps 10%, Nikkei up 1,400 points – The Times of India

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Asian stocks today: Markets inch higher mirroring Wall Street gains; Kospi jumps 10%, Nikkei up 1,400 points – The Times of India


Asian stocks inched higher on Thursday, after days of trading in red amid ongoing Middle East tensions. This comes as equities were lifted by a rebound on Wall Street as oil prices paused their recent spike and economic updates painted a more positive picture of the American economy. In South Korea, Kospi hit a pause on its downward rally to add a whopping 10% or 513 points, to reach 5,606. Japan’s Nikkei 225 also climbed 2.7% to 55,713. Hong Kong’s HSI also traded in green, rising 353 points to 25,603 as of 9:10 am. Shanghai and Shenzhen added 0.9% and 1.7% respectively. Gains elsewhere in the region were more modest. Australia’s S&P/ASX 200 added 0.3% to 8,927.20, while New Zealand’s benchmark index moved 0.9% higher. In contrast, US futures indicated a subdued start ahead. Futures linked to the Dow Jones Industrial Average were almost unchanged, while S&P 500 futures ticked up 0.2%. The S&P 500 advanced 0.8% on Wednesday, clawing back much of the decline seen since the onset of the Iran conflict. The Dow Jones Industrial Average rose 0.5%, and the Nasdaq Composite outperformed with a 1.3% gain. Globally, market sentiment has remained sensitive to developments in the Middle East, with oil price swings continuing to steer trading direction. Crude prices eased during Wednesday’s session. Brent crude briefly moved above $84 a barrel before settling at $81.40, roughly matching the previous day’s level. US benchmark crude edged up 0.1% to finish at $74.66 per barrel. By early Thursday, however, oil was on the rise again. Brent crude climbed 2.4% to $83.32 per barrel, while U.S. benchmark crude jumped 2.5% to $76.53 per barrel.



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China sets lowest economic growth target since 1991

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China sets lowest economic growth target since 1991



It is also the first time the target has been lowered since it was cut to “around 5%” in 2023.



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World’s Second-Largest Shipping Firm Maersk Suspends Cargo Bookings Across West Asia Amid War

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World’s Second-Largest Shipping Firm Maersk Suspends Cargo Bookings Across West Asia Amid War


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Maersk has halted cargo bookings to several West Asian ports due to war disruptions. Affected ports include UAE, Iraq, Kuwait, Qatar, Bahrain, most of Oman, and two in Saudi.

Maersk cited regional conflict and personnel safety as it suspended cargo bookings across West Asia, signalling growing disruption to global trade routes. (IMAGE: REUTERS)

Maersk cited regional conflict and personnel safety as it suspended cargo bookings across West Asia, signalling growing disruption to global trade routes. (IMAGE: REUTERS)

Maersk, the world’s second-largest container shipping company that handles a significant share of global trade, said it has suspended cargo bookings to and from several ports in the West Asia region as the ongoing war begins to disrupt global shipping routes.

The company on Wednesday said it will no longer accept cargo bookings involving ports in the United Arab Emirates, Iraq, Kuwait, Qatar, Bahrain, most of Oman and two ports in Saudi Arabia, according to a report by Barron’s.

However, the suspension will not apply to shipments of critical food supplies, medicines and other essential goods, which will continue to move through the region.

Maersk said the decision was part of operational measures aimed at protecting personnel and safeguarding cargo amid the escalating conflict.

“We are taking operational measures to ensure the safety of our personnel, safeguard your cargo and maintain service stability across affected trades in the Middle East,” the company said in a statement accessed by Barron’s.

Maersk had earlier announced that it would reroute vessels bound for the Suez Canal around the southern tip of Africa and suspend all vessel crossings through the Strait of Hormuz as tensions escalate in the region.

The changes mean ships travelling between Asia and Europe may now take longer routes around the Cape of Good Hope, adding time and cost to global shipping, the news agency said in its report.

Financial markets also reacted to the development. Shares of Maersk traded in Denmark fell nearly 2% on Wednesday following the announcement.

The disruption comes as insurance providers pause coverage for vessels operating in parts of the Gulf amid the intensifying conflict.

US President Donald Trump on Tuesday said the United States Navy would escort oil tankers through the Strait of Hormuz if necessary, as concerns mount over energy supply disruptions.

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