Home / Companies / News /  Acme eyes green hydrogen biz in Oman

NEW DELHI : 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.

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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.

Acme Solar is among the last entirely promoter-owned large green energy platform in India and has an operational 3 gigawatts (GW) projects out of its 5.5GW portfolio.

Acme’s move comes as a proposal to mandate fertilizer, steel and petrochemicals industries to shift to green hydrogen use is expected to make its way up to the union cabinet shortly.

Apart from Acme Solar, Indian private companies such as Greenko and Adani Group and state-owned firms such as NTPC Ltd and Indian Oil Corp. Ltd (IOCL) have been tying up with technology providers, while Solar Energy Corp. of India Ltd is looking to invite bids to build green hydrogen plants.

Given that hydrogen can be used for both fuel cell and internal combustion engines, it is also being leveraged for mobility applications. Tata Motors, the Kerala government, IOCL and NTPC Ltd have plans for hydrogen fuel cell buses. Indian Railways also plans to run a hydrogen fuelled suburban train.

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Utpal Bhaskar

"Utpal Bhaskar leads Mint's policy and economy coverage. He is part of Mint’s launch team, which he joined as a staff writer in 2006. Widely cited by authors and think-tanks, he has reported extensively on the intersection of India’s policy, polity and corporate space.
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