India to gain $6.7m green hydrogen and green ammonia project

by Sep 12, 2022

A Memorandum of Understanding (MoU) has been signed between India-based renewable energy company ACME Group and the Government of Karnataka for the development of a green hydrogen and ammonia project. This project will see an investment of $6.7 million (Rs. 52,000 crore) and will produce 1.2 million tonnes of green hydrogen and ammonia per year in the southwestern state of Karnataka. Yet to be named, this project will be powered by solar energy and will create more than 2,000 jobs when it comes into operation by 2027. The company has been tight-lipped about the relative quantities of each product as it is still in the process of discussing and finalizing the details. The interesting aspect of this news is that the output figure puts this project among the biggest projects in the world for hydrogen and ammonia production. The Government of Karnataka has pledged to assist ACME group with all the permitting requirements, registrations, approvals and clearances for the project. The proposed project’s output would count towards India’s nationwide target of producing 5 million tonnes of green hydrogen by 2030 as announced in its National Hydrogen Mission. This project aims to establish India as an export hub for green hydrogen. It’s a win-win situation for both the company and the country as not only will it provide clean fuel to the people of the country, which will in turn reduce dependence on fossil fuels, but it will also establish ACME Group as a key player accelerating the adoption of the green fuel globally. Moreover, shifting to large-scale production and usage of hydrogen will also strengthen India’s geopolitical heft and reinforce energy security.

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