- It will invest INR 524.7 billion towards setting up a 1.5 GW complex.
Acme Cleantech Solutions Pvt Ltd, an Indian company, also known as Acme Group, has revealed that it will invest INR 524.7 billion towards setting up a 1.5 GW complex. The electrical power from the complex will be directed toward producing green hydrogen and ammonia in the state of Tamil Nadu. The company, announcing the project on Tuesday, revealed that it had sealed an initial agreement with the state’s government.
Under the proposed schemes, it is expected that an electrolyser with the capacity of producing 1.1 million tonnes of green ammonia will be installed. The green ammonia will be used for decarbonising fertiliser, power, refining, steel and other industries. The process is to be powered using electricity from a 5 GW solar photovoltaic (PV) park.
“The project requires four ingredients – solar radiation, access to the port, availability of land and skilled resources. Tamil Nadu offers all of these,” said Manoj K Upadhyay, founder and chairman of Acme Group.
Acme’s announcement is coming just a month after the company revealed plans for a 1.2 million-tonne green hydrogen and ammonia production facility in Karnataka state. The scheme will entail an investment of ONR 520 billion.