Acme Group and IHI Corporation Launch India’s Largest Green Ammonia Project in Odisha
Acme Group and IHI Corporation have announced a joint venture to develop India's largest green ammonia facility in Gopalpur, Odisha, following a memorandum of understanding signed in 2023. The project aims to produce 0.4 million tonnes of green ammonia annually, primarily for export to Japan, supporting both nations' decarbonization goals. Significant milestones have been achieved, including the establishment of a joint venture and completion of essential engineering designs. The project is expected to mitigate over 0.8 million tonnes of CO2 emissions annually and is slated for commissioning by 2029-2030.
Theia Market Signal Identification - AI AssistedIn a pivotal move for the clean energy sector, Acme Group, a prominent Indian cleantech solutions provider, has partnered with Japan's IHI Corporation to establish India's largest green ammonia facility in Gopalpur, Odisha. This collaboration follows the signing of a memorandum of understanding in 2023 and represents a significant advancement in the India-Japan energy partnership.
The Gopalpur facility is projected to produce approximately 0.4 million tonnes of green ammonia annually, primarily targeting Japanese markets, especially in the power generation and chemical sectors. This initiative not only aims to bolster energy security but also to facilitate the long-term decarbonization goals of both nations. As part of this venture, IHI Corporation has acquired a 30% stake in Acme Clean Energy, while Acme retains the majority share.
Acme and IHI Corporation have already secured the necessary land and successfully completed the front-end engineering design, laying a solid foundation for the project's advancement. The facility's commissioning is anticipated by 2029-2030, with plans in place for ammonia evacuation and renewable energy integration. This strategic location in Odisha, with its established port infrastructure and supportive government policies, positions the project favorably for large-scale green ammonia exports.
Chairman of Acme Group, Manoj Kumar Upadhyay, emphasized the importance of this joint venture in addressing the urgent need for decarbonization. He highlighted the shared concerns of both India and Japan regarding energy security and sustainability, asserting that the project will not only contribute to local employment but also play a significant role in the global fight against climate change.
IHI Corporation's President and CEO, Hiroshi Ide, echoed these sentiments, underscoring the role of green ammonia in achieving a net-zero world. He expressed confidence that this collaboration will establish secure green ammonia fuel value chains, benefiting both nations while advancing global decarbonization efforts.
The project is positioned as a cornerstone of the bilateral clean energy partnership, aligning with the joint declaration of intent on clean hydrogen and ammonia adopted by Prime Ministers Modi and Ishiba at the 15th Japan-India Annual Summit. By reinforcing India's ambitions to become a global hub for green hydrogen and its derivatives, this venture not only enhances the energy landscape but also symbolizes the deepening ties between the two nations. With an expected reduction of over 0.8 million tonnes of CO2 emissions annually, the joint venture marks a substantial step towards a sustainable energy future, elevating Odisha as a leading green energy hub in India.
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