Acme eyes green hydrogen biz in Oman
India’s largest pure-play solar platform Acme Solar Holdings Ltd plan to invest $2.5 billion to manufacture green ammonia and green hydrogen in Oman.
This manufacturing facility will be in Duqm, Oman, and will supply green ammonia to Europe, America and Asia region. A memorandum of understanding (MoU) to set up a large-scale facility to produce 2,200 metric tonnes (mt) of green ammonia per day has been inked with The Oman Company for the Development of the Special Economic Zone at Duqm (Tatweer), according to an Acme Group statement.
Green hydrogen gas is powered by electricity generated from clean energy sources such as wind and solar.
“ACME has opted for Oman for its first large scale green ammonia commercial project considering the strategic location of Oman, the support received from government bodies and high solar irradiation in the country,” Acme said in a statement.
Acme Solar, founded in 2003 by Manoj Kumar Upadhyay, has been looking at new business opportunities in energy storage, green hydrogen and ammonia. It plans to produce green hydrogen with Lhyfe Labs SAS of France.
“ACME’s green initiatives in green hydrogen and ammonia sector begins with its pilot project in Rajasthan, India which is currently under construction and will be operational by April 2021,” the statement added.
