PurpleGreen Energy and SELECT plan long-term cooperation for green ammonia
Latvian renewable developer PurpleGreen and SELECT signed a 20-year MoU for 550,000 tons of green ammonia annually, produced at Ventspils.
PurpleGreen, a Latvian renewable energy developer, and S.E.T. Select Energy, a German energy trading firm, executed a Memorandum of Understanding on October 24, 2024, in Hamburg to establish a twenty-year partnership for green ammonia sales totaling 550,000 tons annually.
The memorandum solidifies both parties' intention to collaborate on exporting green ammonia produced at Ventspils, expected to reach approximately 550,000 tons yearly. Output will meet Renewable Fuels of Non-Biological Origin standards, with manufacturing commencing January 2029. Production will utilise renewable energy sources, benefiting RES developers throughout Latvia. SELECT will procure, market, and handle logistics and risk management services.
“The signed memorandum confirms demand for all green ammonia produced within the project over a 20-year period, which is crucial.”
“This represents a significant achievement for both companies and potentially all of Latvia, as investment could exceed €1.3 billion.”
“We are proud to sign this memorandum and begin a strategic partnership with PurpleGreen.”
“Ventspils has the potential to become a renewable energy hub and an export centre for the energy sources of the future.”
PurpleGreen has secured long-term construction rights from Ventspils Freeport, with environmental assessments underway.
PurpleGreen Energy
PurpleGreen specialises in renewable energy development including solar, wind and green hydrogen products.
S.E.T. Select Energy
S.E.T. Select Energy, established in Hamburg in 1985, provides energy trading and sustainability transition services.
