AM Green and Japan’s Mitsui & Co. Ltd have signed a Memorandum of Understanding (MoU) to explore strategic collaboration and investment opportunities in low-carbon aluminium and broader energy transition initiatives. The agreement marks a significant step towards building what is envisaged as the world’s first fully integrated green aluminium production platform.
The MoU focuses on assessing potential investment pathways across the AM Green Metals value chain, alongside commercial and strategic cooperation to accelerate industrial decarbonisation. The partnership brings together AM Green’s clean energy-led manufacturing vision and Mitsui’s global trading, investment and market access capabilities.
Building a green aluminium platform
AM Green, through its wholly owned subsidiary AM Green Aluminium Metals and Materials (AM Green Metals), is developing a large-scale green aluminium ecosystem in India. The plans include a 1 million tonnes per annum (MTPA) primary aluminium smelter, supported by 2 MTPA alumina refining and mining operations.
In November 2025, AM Green signed an MoU with the Andhra Pradesh government to establish a 1 MTPA green aluminium complex in the state. This facility is expected to play a pivotal role in positioning India as a competitive hub for low-carbon aluminium production.
Renewable energy at the core
Both the aluminium smelter and alumina refinery will be powered entirely by renewable energy, combining wind and solar resources firmed by pumped hydro storage. This integrated clean power strategy is designed to ensure round-the-clock energy supply while significantly reducing carbon emissions.
In May 2025, Coal India signed an MoU to supply 4.5 GW of renewable power to AM Green for its various verticals, including AM Green Metals. This arrangement underpins the company’s ambition to scale green manufacturing using domestically generated clean energy.
Scope of collaboration with Mitsui
Under the MoU, AM Green and Mitsui will jointly assess potential investments across the green aluminium value chain. Mitsui’s participation is expected to support equity requirements for developing the integrated platform and to strengthen access to global markets.
The discussions also cover a range of commercial opportunities, including potential offtake arrangements for low-carbon aluminium. This may involve access to offtake rights linked to AM Green’s green aluminium business, helping meet growing international demand for sustainable materials.
In addition, the collaboration will explore the supply of auxiliary materials required for the green aluminium smelter and alumina refinery, further strengthening supply chain resilience.
Advancing industrial decarbonisation
AM Green’s leadership has indicated that the company is focused on building globally competitive platforms across molecules and materials to enable industrial decarbonisation at scale. The collaboration with Mitsui is seen as a way to accelerate low-carbon aluminium production while expanding market access for a wider portfolio of green products.
AM Green has been established by Greenko founders Anil Chalamalasetty and Mahesh Kolli as a dedicated energy transition and decarbonisation platform. The company holds stakes in Greenko’s Power2X businesses, including green ammonia, green hydrogen, green metals and green chemicals, as well as Bio2X ventures such as second-generation ethanol, sustainable aviation fuel, dissolving pulp and lignin.
Scale of Greenko and AM Green ambitions
Greenko currently operates over 12 GW of renewable energy capacity across solar, wind and hydro assets in India. It is also developing 100 GWh of single-cycle pumped hydro storage capacity by 2030 to support grid stability and round-the-clock clean power.
AM Green has committed to producing 5 MTPA of green ammonia by 2030, with 1 MTPA already under construction. This represents around one-fifth of India’s green hydrogen production target and approximately 10 per cent of Europe’s projected green hydrogen import demand. The company has also committed to building 1 MTPA of green aluminium capacity.
Mitsui’s global role
Mitsui & Co. is a global trading and investment company with operations in more than 60 countries and a diversified portfolio spanning multiple industries. The company develops and grows businesses in partnership with leading global players, leveraging its geographic reach and cross-industry expertise to create long-term sustainable value.
The MoU with AM Green reflects Mitsui’s growing focus on energy transition, low-carbon materials and sustainable industrial development, aligning with global efforts to reduce emissions across hard-to-abate sectors.
