The Asian Development Bank and the Japanese government signed off on a joint financing package for AM Green's renewable hydrogen-based ammonia project in Kakinada, India, according to a report published Oct. 16, 2026.
The first 640 MW phase of the project is already under construction, and three additional offtakers in Japan have been lined up.
The financing supports AM Green's plan to convert its existing natural gas-based ammonia and urea complex at Kakinada into a green ammonia production facility.
Phase 1 of the Kakinada project targets 1 million tons/year of green ammonia capacity, intended for international markets. AM Green has a long-term offtake agreement with Germany's Uniper for up to 500,000 tons/year of renewable ammonia, with first shipments expected as early as 2028.
AM Green was also selected as sole winner of the Asian lot in the H2Global auction administered by HINT.CO, securing a long-term agreement to supply Germany with RFNBO ammonia from Phase 2, with first deliveries expected in 2029.
