Indian renewable energy developer ACME is planning a significant investment of INR270bn (USD3.27bn) to establish a large green hydrogen and green ammonia project at the Gopalpur Industrial Park (GIP), located in Ganjam district of Odisha, as reported by Reuters on August 25. The company will acquire 343 acres of land in the GIP from Tata Steel Special Economic Zone Ltd (TSSEZL), a wholly owned subsidiary of Tata Steel [TATA:IN], to build a facility for producing green hydrogen and its derivatives. Additionally, ACME intends to construct a green ammonia production plant powered by renewable energy within the GIP, with an expected annual output of 1.3 million tons.

This project aims to be India’s largest manufacturing facility for green hydrogen and its derivatives located in a single location. ACME’s plan includes supplying green hydrogen and green ammonia to both domestic and international markets, ensuring competitive pricing. ACME has a strong background in solar power projects across 12 Indian states, and it is leveraging its expertise in renewable energy to venture into the emerging green hydrogen sector. The company commissioned a green hydrogen and green ammonia plant in Bikaner, Rajasthan, in 2021. Moreover, ACME recently secured USD 488 million for the first phase of a green hydrogen and green ammonia project in Oman. With ambitious goals, ACME envisions an annual production of 10 million tons of green ammonia and hydrogen by 2032.

Sources:

https://www.reuters.com/business/energy/indias-acme-group-invest-nearly-33-billion-green-hydrogen-project-2023-08-25/

https://www.thehindu.com/business/acme-group-to-set-up-green-hydrogen-plant-at-odisha-for-27000-crore/article67235992.ece

https://www.pv-magazine-india.com/2023/08/25/acme-signs-land-agreement-for-green-hydrogen-ammonia-project-in-odisha/

https://www.reuters.com/business/energy/indias-acme-group-gets-490-mln-funding-oman-project-2023-07-22/