NEW DELHI :

India’s largest solar-only platform, Acme Solar Holdings Ltd, signed a land contract on Monday for one of the world’s largest green ammonia projects in the special economic zone in the port of Duqm in Oman with a planned investment of $ 3.5 billion The company said in a statement. Acme Solar Holdings Ltd and The Oman Company for the development of the Duqm (Tatweer) Special Economic Zone plan to make this investment in the West Asian country. This production facility planned in Duqm is intended to deliver green ammonia to Europe, America and Asia. Tatweer is the wholly owned subsidiary of Oman’s Public Authority for Special Economic Zones and Free Zones (OPAZ).

“The agreement was signed with the Public Authority for Special Economic Zones and Free Zones, a government agency of Oman,” the statement said.

Prime Minister Narendra Modi announced India’s National Hydrogen Mission on August 15th as India spends Rs 12 trillion annually to meet energy needs. Green hydrogen is made by splitting water into hydrogen and oxygen with an electrolyser powered by electricity from renewable energy sources such as wind and solar, which can be a determining factor for India, which imports 85% of its oil and 53% of its gas needs be.

“We have hired environmental consultants and builder engineers Black & Veatch and plan to start construction in Oman as soon as we start up our first green hydrogen and green ammonia facility in Bikaner, India. The plant in Oman would be developed in phases and the first phase is expected to be operational by the end of 2022, “said Manoj K. Upadhyay, founder and chairman of the ACME Group, in the statement.

Acme Solar was founded by Upadhyay in 2003 and has been looking for new business opportunities in the fields of energy storage, green hydrogen and ammonia.

“In March 2021, The Oman Company for the Development of the Special Economic Zone at Duqm (Tatweer) and the ACME Group signed a MoU for the construction of a large-scale plant for the production of green hydrogen and green ammonia. The plant will be an integrated plant that uses 3 GWp solar and 0.5 GWp wind energy to generate 2,400 TPD of green ammonia with an annual production of approximately 0.9 million tons, “the statement said.

Stressing the need for energy independence, Prime Minister Modi said when announcing the mission that the plan would see India become a global hub for the production and export of green hydrogen. He said it is important for India to move forward and become independent, become energy independent.

“The ACME Group is in the process of commissioning the world’s first integrated green hydrogen and green ammonia plant in Bikaner, India. Green hydrogen is produced with 5 MWp, which can be expanded to 10 MWp, from the solar system, which is an integral part of the project, ”the statement says.

Acme Solar is the last fully-owned large green energy platform in India and has 2.2 gigawatts (GW) of operational projects from its 6 GW portfolio.

Acme Solar Holdings Ltd recently recruited Brookfield Renewable Partners to co-build a solar project in Rajasthan as part of its playbook on selling stakes in its projects. In addition, the Danish state fund IFU, the United Nations Office for Project Services S3i and the Norwegian company Scatec acquired shares in separate solar projects from Acme Solar in Rajasthan.

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Ref: https://www.livemint.com