Under the agreement, ACME and IHI plan to compete with the relatively cheaper but less environment-friendly blue ammonia supply with the active support and incentives being offered by the government under the National Green Hydrogen Mission and the State Government of Odisha, a joint statement of the companies said.
Both the companies aim to partner across the value chain of green ammonia – from production to logistics.
“India’s cost of making green hydrogen and green ammonia is already among the most competitive in the world. We are going to emerge as one of the largest manufacturers of green hydrogen and green ammonia in the world,” Power and New & Renewable Energy Minister RK Singh, who was present at the signing of the pact, said.
Japan and other developed countries have huge requirements for green hydrogen and green ammonia, which India shall be able to supply at most competitive rates, Singh added.
The first phase of production at ACME’s Odisha plant is likely to start by 2027.The company is developing green hydrogen and ammonia projects in India, Oman and the US with an aim to have a portfolio of 10 million tonnes per year of green ammonia or equivalent hydrogen/derivatives by 2032.The country is well positioned to develop renewable resources and produce competitive green molecules for export and domestic consumption, according to President and Director, Acme Group, Ashwani Dudeja.
The company is also working with many potential customers in India to supply green hydrogen and ammonia, it said.
