India’s clean energy conglomerate Agastya Group on Wednesday (3 June) said Agastya Green Fuels signed a long-term green methanol offtake agreement with Sri Lankan bunker supplier SAR Maritime Agencies, a SAR Group company, for the supply of 250,000 metric tonnes (mt) per annum of EU RFNBO RED III Compliant green methanol. Agastya said the agreement establishes one of the largest green methanol supply partnerships in the Indian Ocean Region and marked a major step toward creating a new green maritime energy corridor connecting India and Sri Lanka. The green methanol will be supplied from the Agastya Green Fuels Hub at Mulapeta Port, Andhra Pradesh, India, where Agastya is developing a green methanol export-oriented facility with a planned investment of USD 6 billion over the next six years. The facility is expected to produce 1 million mt per annum. “Through this partnership, Agastya Green Fuels and SAR Group will work together to enable green methanol storage, bunkering, and marine fuel infrastructure across Sri Lanka, positioning Colombo, Hambantota, and Trincomalee as future clean-fuel hubs for global shipping,” the company said in a social media post. “The Indian Ocean is emerging as the world’s next green fuel corridor. Agastya Green Fuels intends to be at its center,” said Shashi K Reddy Arjula, Founder and Group CEO of Agastya.   Photo credit: CHUTTERSNAP on Unsplash Published: 25 May, 2026