CHENNAI, India – During the Tamil Nadu Global Investors Meet 2024, representatives from the Government of Tamil Nadu met with Umwelt Energy to sign a MoU that outlines investment measures and facilitation to enable and support a specific green fuel project in Tamil Nadu. A project that will help lay the local foundation to boost green fuel production and ultimately help enable the green energy transition in India.
Both parties intend to work closely together in this matter. For Umwelt Energy, this means solid financial investments, having proposed to invest approximately 800 million USD during the next four years. Furthermore, Umwelt Energy proposes to employ 1,800 people locally in Tamil Nadu within these four years (300 directly and 1,500 indirectly).
For the Government of Tamil Nadu, the intent is to facilitate and support the project directly in the form of necessary infrastructural support and regulatory facilitation subject to applicable law.
Umwelt Energy’s CEO, Alexander Eriksen, is thrilled about the signed MoU:
“This MoU marks the beginning of a closer relationship between Umwelt Energy and Tamil Nadu and India in general. India is one of our most important allies in our common work for reaching net zero and the country is full of motivated, skilled people and great resources along with visionary politicians and authorities, which is exactly what the green transition needs. This will not only strengthen this partnership even more but help boost the green transition globally.”
The state of Tamil Nadu is in the southeastern corner of India with an area of approximately 130,058 square kilometers and has a 1,076-kilometer coastline and is as such the state with the second longest coastline in the country. This location is ideal for setting up green fuel projects, says Umwelt Energy’s Managing Director for India, Saibaba Vutukuri:
“India’s location, and especially Tamil Nadu’s location with its vast lands and long coastline, is ideal for setting up green fuel projects and -plants, and the geographical location of Tamil Nadu is perfect when it comes to accommodating trade and export globally. Not to mention the great number of skilled and motivated people already living in Tamil Nadu that can help the project succeed. I consider the prospect of this project to be a win-win situation for all parties involved.”
The project in Tamil Nadu will be initiated during 2024.