CASE STUDY 4 Kakinada Cluster The AM Green Kakinada Cluster, located in Andhra Pradesh, India, is being developed as a green industrial cluster delivering industrial decarbonization solutions globally with a planned investment of $3 billion and $15 billion on upstream investment.44 It seeks to establish a resilient green hydrogen ecosystem by integrating mature and commercially viable technologies to ensure effective, fast-paced execution and scalability. –Project details: The project involves the production of green ammonia with a 1-million-ton production capacity powered by round-the-clock renewable electricity. The green ammonia project benefits from faster permitting and approval processes from key regulatory and statutory bodies to facilitate a faster Commercial Operational Date (CoD), which significantly accelerates execution timelines. The cluster complies with the EU Renewable Energy Directive and RFNBO regulations, meeting the strictest standards required for exporting green ammonia to European markets. The cluster will also house a 2 GW electrolyser manufacturing facility and multiple green chemicals production. –Partnerships: The Kakinada Cluster involves several key partnerships to achieve its objectives. Integrated energy partners like NTPC are supplying renewable energy from solar and wind to firm up by AM Green’s pump storage assets to power ammonia facilities. AM Green has partnered with John Cockerill to develop electrolysers through joint ventures, leveraging John Cockerill’s global supply chain and local manufacturing capabilities. Additionally, AM Green is working with DP World to establish a global supply chain ecosystem for green ammonia shipping, thereby expanding ammonia’s use beyond fertilizers to various industrial applications. Finally, offtake agreements with industry leaders such as Uniper and Yara have established a comprehensive industrial network, ensuring end-to- end value chain integration and project success. –Finance and technology: Funding for the project is being secured through strategic equity investments, debt financing and production-linked incentives from the Indian government for electrolyser manufacturing. The 1 MTPA green ammonia project has already achieved Final Investment Decision (FID) and is under active project execution stage. The Kakinada Cluster represents a scalable, pioneering industrial decarbonization initiative, leveraging existing infrastructure, established supply chains and strategic partnerships. By aiming to deliver cost-competitive green ammonia at scale, the cluster accelerates the energy transition while creating economic value for off-takers and investors alike. Source: Courtesy of the cluster

Accelerating India%E2%80%99s Energy Transition through Industrial Clusters 2025