NEW DELHI, Dec. 19 -- Backed by the founders of Greenko, AM Green has signed a memorandum of understanding (MoU) with Japan's Mitsui & Co for strategic collaboration on energy transition initiatives and potential investment pathways in low-carbon aluminium, the company said in a statement on Thursday. "Under the MoU with Mitsui, the parties will assess potential investment in the AM Green Metals value chain. Mitsui's investment will support equity requirements to build the world's first integrated green aluminium production platform," the statement said. The partnership is part of AM Green's $20 billion capex strategy, under which it is converting electrons into metals and molecules. The proposed investment amount was not specified. AM Green, through its wholly owned subsidiary AM Green Aluminium Metals and Materials (AM Green Metals), is building a 1 million tonnes per annum (mtpa) primary aluminium smelter along with 2 mtpa of alumina refining and mining operations. Both the smelter and the refinery will be powered by renewable wind and solar energy, firmed up with pumped hydro storage, producing green aluminium products. Last month, AM Green signed agreements with the Andhra Pradesh government for projects worth Rs.54,000 crore, of which Rs.44,000 crore will be directed towards the 1 mtpa aluminium plant. Under the MoU, Mitsui will evaluate potential investment opportunities across the AM Green Metals value chain. The two companies will also explore offtake arrangements for low-carbon aluminium, as well as the supply of auxiliary materials for the green aluminium smelter and alumina refinery. "AM Green is building globally competitive platforms across molecules and materials to enable industrial decarbonization at scale. We are pleased to partner with Mitsui to explore collaboration pathways that can accelerate low-carbon aluminium and expand market access for a wider set of green products," said Mahesh Kolli, founder, Greenko Group & AM Green. This development gains significance as several developed economies, including the European Union through its Carbon Border Adjustment Mechanism (CBAM), plan to impose carbon taxes on imports, introducing stricter compliance norms....