ACME Group to set up Rs 27000 cr green hydrogen unit in Odisha

Last Updated August 26, 2023

Bhubaneswar, Aug 26: A Rs 27,000 crore green hydrogen project will be set up in Ganjam district of Odisha. ACME Clean Energy Private Limited (ACME Group) signed a memorandum of understanding ( MoU) with Tata Steel Special Economic Zone Ltd (TSSEZL) to this effect here on Friday.

ACME Clean Energy Private Limited will acquire 343 acres of land in TSSEZL’s Gopalpur Industrial Park to set up its green hydrogen and green ammonia project.

The total investment of the project is estimated to be Rs 27,000 crore, which will be invested in phases.

The company plans to set up a 1.3 MTPA green ammonia production facility. This green ammonia will be produced from green hydrogen, and the production facilities will be powered by renewable power, the company said in a statement.

The green ammonia produced at this facility will be exported to markets in the West and East from the existing Gopalpur port facilities. ACME Group is planning to partner with Japan’s IHI Corporation for this project, it added.

“This project will help us to offer to Make in India green hydrogen and green ammonia to domestic and international markets at competitive prices," said Manoj K. Upadhyay, founder, and chairman of ACME Group.

“We envision Odisha as the hub of green hydrogen and green ammonia and a leader in the green fuel economy. To catalyze this vision, we're offering best-in-class incentives. Our progressive policy is a testament to our dedication towards a sustainable and prosperous future," said Hemant Sharma, Principal Secretary of Odisha Industries Department.

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