spot_img

ACME Clean Energy to invest ₹27,000 cr in green hydrogen project

Date:

Share:

[ad_1]

Tata Steel Special Economic Zone and diversified renewable energy company, ACME Group, has signed a Memorandum of Understanding to establish a green hydrogen and green ammonia project at the Gopalpur Industrial Park in Odisha.

This will be the largest single location green hydrogen and its derivatives manufacturing facility in the country.

ACME Clean Energy will acquire 343 acres of land at the industrial park to set up a green hydrogen and its derivatives unit. The ACME Group will invest about ₹27,000 crore in phases.

Hemant Sharma, IAS, Principal Secretary, Odisha government, said the State envisions to become the hub of Green Hydrogen and Green Ammonia and offers best-in-class incentives.

ACME Group plans to set up a nearly 1.3 MTPA green ammonia production facility at GIP. This green ammonia will be produced from green hydrogen, and the production facilities will be powered by renewable power.

The green ammonia produced at this facility will be used in west and eastern market transported through the existing Gopalpur Port facility. The utility corridor between Gopalpur Industrial Park and Gopalpur Port provides a dedicated corridor for smooth logistics and pipeline connectivity.

Manikanta Naik, Managing Director, Tata Steel Special Economic Zone said the plug-and-play infrastructure, multi-modal logistics connectivity, ready environmental clearance and a clear land title have helped the industrial park to emerge as the preferred investment destination.

TSSEZL, is a wholly-owned subsidiary of Tata Steel. The company aims to develop the GIP as an emerging manufacturing hub for both domestic and export-oriented industries.

Manoj K. Upadhyay, Founder and Chairman, ACME Group said the project enable to supply Make In India Green Hydrogen and Green Ammonia to domestic and international markets at a competitive price.



[ad_2]

Source link

━ more like this

China Sanctions: China sanctions US firm Kharon, provider of research on Xinjiang

BEIJING: China's foreign ministry said it had sanctioned Kharon, a US firm founded by former treasury department officials that provides data to companies...

Bry-Air Conducts the 13th Biannual Eye Camp to Support Underprivileged People Suffering from Eye-Related Problems

Bry-Air Conducts the 13th Biannual Eye Camp to Support Underprivileged People Suffering from Eye-Related Problems Staying true to its commitment to enhancing lives through CSR...

Ukraine: Ukraine claims destruction of major Russian navy vessel in Crimea

Ukraine's air force said on Tuesday that it had destroyed a major Russia landing ship stationed in the Crimean waters, after the Russian-installed...

Mavericks’ Luka Doncic reaches 10,000-point career milestone

Mavericks star Luka Doncic reached 10,000 career points during the first quarter of Dallas’ road game against the Phoenix Suns. Doncic reached 10,000...

Indonesia nickel plant explosion death toll rises to 18

JAKARTA: The death toll after an explosion at a Chinese-funded nickel-processing plant in eastern Indonesia over the weekend has risen to 18 with...