26 March 2024 – ACME Group, a company focused on renewable and new energy, is planning to significantly invest in green ammonia production. The company aims to spend at least $3 billion (Rs 24,936 crore) on two of its major green ammonia projects in the financial year 2024-25.
ACME plans to build a portfolio of about 10 million tonnes of green ammonia or its equivalent in hydrogen production by 2030. The Group currently has a combined renewable energy portfolio of 8.5 gigawatts (GW).
Odisha project – This project is estimated to cost about $2.2 billion in its first phase, with a green ammonia production capacity of 1.2 million metric tons per annum (MMTPA). The first production from the plant is likely to take place in 2027.
Oman project: ACME plans to set up a green ammonia project with a total capacity of 900,000 tonnes a year (0.9 MMTPA), to be developed in phases.
