Page 136 - CW E-Magazine (30-4-2024)

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capacity of approximately 100-ktpa of
green ammonia by 2030.

JERA will have the right to offtake
this green ammonia for Japan. There
will be a joint study to evaluate the
commercial viability of the project.

The project will build on the seven-
year relationship between the two
companies and will leverage ReNew’s
capabilities in renewable energy deve-
lopment and solutioning, and JERA’s
expertise in building full value chains.

Mr. Yukio Kani, Global CEO &
Chair of JERA said, “Since 2017,
JERA has maintained a strong partner- both ReNew and JERA, and demon- companies aligns with India’s ambi-
ship with ReNew, and we are pleased strates our commitment in accelerat- tious National Green Hydrogen Mis-
to expand this collaboration to the ing the clean energy transition. Green sion and Japan’s clean energy tran-
next level – the fi rst green hydrogen ammonia holds immense potential in sition goals. The Indian government
and ammonia development project for reducing carbon emissions and the aims to produce 5-mtpa of green
JERA.” project, once ready, will contribute to hydrogen by 2030, in an effort to become
a cleaner future and support India’s the world’s largest green hydrogen
Mr. Sumant Sinha, Founder, Chair- National Green Hydrogen Mission.” hub. The Government of Japan is
man & CEO, ReNew said, “This col- planning new initiatives to accelerate
laboration marks an exciting time for The partnership between the two the transition towards clean energy.

Ganesh Benzoplast reports fraudulent bank

transactions at subsidiary

Ganesh Benzoplast Ltd., a Mumbai- In response to these developments,
based company with operations in the company has put out an update on
liquid storage and chemical manufactur- April 16, stating that the company had
ing, has reported “certain unauthorised initiated a thorough investigation and
and fraudulent transactions” done in has taken requisite steps including fi l-
its name and its wholly-owned subsi- ing police complaints as well as civil
diary, GBL Chemical. suits against those which the company
believes are the persons who were
In a regulatory fi ling on April 2, primarily involved in these fraudulent
the company had informed about an transactions.
unauthorised opening and operation
of a bank account in the name of GBL The company estimates the amount
Chemical. involved in the unauthorised borrow-
ings and transactions to be in the range
The company had disclosed that co-borrower in the unauthorised bank Rs. 40-45-crores. GBL said it is con-
its management had been apprised of account. GBL had asked the relevant testing these transactions and believes
“unauthorised borrowings”, wherein bank to freeze operations of the ac- that there is no fi nancial liability on it
the company is listed as an alleged count. or its subsidiary.

136 Chemical Weekly April 30, 2024

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