Japan’s energy major JERA has announced the start of full-scale operations by its subsidiary JERA Energy India, established to widen business opportunities in the Indian market, which is expected to continue to grow in the future.
According to JERA, the subsidiary will be primarily responsible for information-gathering on renewable energy, green hydrogen and ammonia, LNG to power, as well as other projects and related solutions in India. Moreover, JERA Energy India will be tasked with building relationships with relevant ministries and agencies, local companies, and more.
Through these operations, JERA said the company will strengthen its knowledge of the local market in order to pursue optimal business opportunities.
JERA referred to India as an important market for the development and expansion of businesses related to renewable energy, green hydrogen and ammonia production in the Asian region as it has set out a national hydrogen mission and launched various support programs related to green hydrogen and ammonia production. To note, India has a renewable energy development target of 500 GW by 2030.
Since 2017, Japan’s major has been investing in ReNew, an independent renewable energy company in India, and the two companies are engaged in the joint development of green ammonia production.
Under this ammonia deal with ReNew, announced on April 19, 2024, the two parties will jointly evaluate the development of a green ammonia production project in Paradip, the state of Odisha, with the project utilizing approximately 500 MW of high-capacity utilization factor (CUF) renewable energy to produce green hydrogen, a key feedstock for green ammonia.
JERA previously said that the company will continue to work with “leading” companies in Japan and overseas to establish and expand hydrogen and ammonia supply chains, thereby contributing to global decarbonization and solving energy issues, particularly in Asia.