Gurgaon-based ACME will set up a facility to produce green hydrogen and green ammonia in Oman, working in collaboration with a company that manages a Special Economic Zone in the sultanate’s Duqm region.
The facility would be set up with an initial investment of $2.5 billion and will produce 2,200 tonne of green ammonia daily. ACME and Tatweer have identified the land parcel in Duqm. “ACME has opted for Oman for its first large scale green ammonia commercial project considering the strategic location of the Oman, the support received from the Government bodies and high solar irradiation in the country,” ACME said in a statement.
ACME has a pilot running in Rajasthan to produce green hydrogen and ammonia. The company said it is currently under construction and will be operational by April 2021.
Green hydrogen is produced through electrolysis from renewable energy, becoming the raw material to make green ammonia.
“This large scale plant is strategically planned to cater to international markets for supply of Green Ammonia across Europe, America and Asia region. We believe we can offfer viable solution to existing gas based power plants to reduce their carbon footprint and lower levelized cost of energy (LCOE) using green ammonia as fuel than current battery based storage solutions,” said Manoj Kumar Upadhyay, founder and chairman of ACME group.
ACME has 2.9 GW of commissioned projects and 2.6 GW in pipeline spread across 13 states in India. Salim Al Sulaimani, chief executive officer of Tatweer, said this facility is aimed towards achieving Oman vision 2040 in alternative energy and to boost bilateral ties with India.
Tatweer, incorporated in 2014, is a fully owned subsidiary of Oman's Public Authority for Special Economic Zones and Free Zones (OPAZ) for the development of Duqm Special Economic Zone.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU