With a $52,474 crore investment, Acme Group is constructing a green hydrogen and ammonia facility in Tamil Nadu.
A 1.5 GW electrolyzer, a 5 GW solar power plant, and 1.1 million tonnes of ammonia production capacity are all included in the proposed project.
On May 9, Mint published a story regarding Acme Solar Holdings Ltd’s plans to invest nearly $6 billion in Tamil Nadu to build integrated renewable energy and green ammonia production facility.
“This will likely be the biggest facility ever built, not only in India but worldwide. This facility would generate green hydrogen and ammonia, which will aid in decarbonizing industries including steel, fertilizers, electricity, and refining, among others. The project needs four components: solar radiation, port access, land availability, and trained labor. All of these are available in Tamil Nadu “Manoj Kumar Upadhyay, the founder, and chairman of Acme Group stated in a statement.
By employing electrolyzers to separate water into hydrogen and oxygen, green hydrogen may be created. Renewable energy sources like wind and sun are used to power the electrolysis process itself. By 2030, India plans to produce 5 million tonnes of green hydrogen, which will assist boost its geopolitical influence and revolutionize the nation’s energy security. 53 percent of India’s gas needs and 85 percent of its oil needs are imported.
With 8.5 GW of active and ongoing projects, Acme Solar is the last big green energy platform owned by an Indian promoter. Manoj Kumar Upadhyay, the company’s founder, revealed intentions for Acme Solar to partner with French company Lhyfe Labs SAS to manufacture green hydrogen in Europe and India. Additionally, Acme Solar added Scatec ASA as an equal partner to its 1.2 million tonnes per year green ammonia project in Oman. Scatec ASA was sponsored by Equinor. Acme and Japan’s NYK Line have agreed to work together as a key shipping partners on Acme’s green ammonia initiatives.
“ACME is eager to collaborate with the government to assist in the development of this project as well as the development of an ecosystem of smaller units, “Sandeep Kashyap, chief operating officer of Acme Group, said in the release.
Indian companies like Reliance Industries, Adani Group, and Greenko Group have expressed a lot of interest in the market as a result of the government’s promotion of modern, emission-free fuel.
India is promoting green hydrogen exports to Japan, South Korea, and Europe as part of its green hydrogen game plan. In order to promote green hydrogen and green ammonia, the government has granted concessionary green electricity, a waiver of interstate transmission fees, land at renewable energy parks, and mega industrial zones. India has announced intentions to implement a production-linked incentive (PLI) system to promote the development of electrolyzers, according to a Mint article.