A Memorandum of Understanding (MoU) between ABC Cleantech and the Government of Karnataka commits the company to spend $6 billion to build a 5 GW green hydrogen and ammonia plant.
With 5 GW of renewable energy projects, the plant will be able to create 0.2 million tons of green hydrogen and 1 million tons of green ammonia annually.
Over a ten-year period, the business anticipates that the manufacturing unit will provide jobs for around 5,000 people.
A joint venture platform called ABC Renewables has been established by Axis Energy and Canadian asset management company Brookfield to build renewable energy projects. This JV recently completed a 445 MWp solar power plant in Rajasthan in record time, and it currently has more than 2 GW of projects in various phases of completion.