Gurugram-based renewable energy company ACME Cleantech Solutions on Monday signed up with Karnataka proposing to invest about Rs 52,000 crore in a 1.2 million tonnes per annum (MTPA) green hydrogen and ammonia plant, along with an associated solar power unit in Mangaluru.
Chief Minister Basavaraj Bommai, Energy Minister V Sunil Kumar and Cooperation Minister ST Somashekar were present as Additional chief secretary (Industries) EV Ramana Reddy signed the MoU with ACME Group chief operating officer Sandeep Kashyap.
The Chief Minister said his government was working on a green hydrogen policy and asked the ACME Group to make full use of it. He also asked the company to stick to the timelines and launch it as per the schedule.
The investors have proposed to build the unit in two phases over the next five year period. The project is expected to add about 1800 jobs.
The big ticket investment proposal follows a similar announcement at Davos recently. The Nasdaq-listed ReNew Power signed up with the state government for an investment of Rs 50,000 crore over a seven year period on energy projects in the state.
“We are delighted to partner with the State of Karnataka in developing one of the largest and earliest green ammonia projects in the world. We will be a formidable player in accelerating the adoption of green fuel globally. We are grateful to the Government of Karnataka for their vision in building the State as a Green Hydrogen hub and extending their full support to this project, ACME Group founder Manoj Kumar Upadhayay said.
The ACME Group has set up the world’s first integrated pilot project for the green hydrogen and green ammonia plant at Bikaner in Rajasthan. In this project, Green Hydrogen is being produced using 5MWp from the solar plant, scalable to 10 MWp.
It has also partnered with Norway-based Scatec ASA to build and operate a large-scale green ammonia facility in the Duqm Special Economic Zone of Oman. The first phase of the facility is expected to produce 100,000 tonnes of green ammonia annually and will be expanded to 1.2 million tonnes per annum with about 3.5 GW of electrolyzer capacity, which will be powered by a 5.5 GWp of solar PV plant, a statement from the government said.
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