August 28, 2021

ACME inks land deal for $3.5bn Oman green ammonia plant

categories : real estate

ACME Group, one of the India’s fastest growing companies in solar energy sector, has signed a land agreement with Oman's Public Authority for Special Economic Zones and Free Zones (OPAZ), in a first step towards setting up one of the world’s largest green ammonia projects in the Port of Duqm.

The plant would be developed in phases at an estimated cost of $3.5 billion over the next three years, said the company in a statement.

It will be an integrated facility using 3 GWp of solar and 0.5 GWp of wind energy to produce 2,400 TPD of green ammonia with an annual production of 0.9 million tonnes.

The land agreement was signed in the presence of ACME Group Founder and Chairman Manoj K Upadhyay and OPAZ Chairman Dr Ali Masoud Al Sunaidy and Vice Chairman Ahmed Hassan Al Dheeb Mahmoud Al Rawahi and other officials.

On the strategic deal, Upadhyay said: 'The signing of land reservation agreement will allow us to kick start pre-construction activities. We have hired environmental consultants and owner’s engineers Black & Veatch and we plan to start the construction at Oman as soon we commission our first green hydrogen and green ammonia plant at Bikaner in India.'

The project's Phase One is likely to be commissioned by end of 2022,' he stated.

In March, the Oman Company for Development of Special Economic Zone at Duqm (Tatweer) and ACME Group had signed a MoU to set up a large-scale facility to produce green hydrogen and green ammonia.

This would be the first facility of this scale to be operational by 2022. The facility is being built to export green ammonia to demand centres like Europe and Asia.

Upadhyay said ACME Group was in the process of commissioning the world’s first integrated green hydrogen and green ammonia plant in Bikaner, India.

'Green hydrogen will be produced using 5 MWp, expandable to 10 MWp, from the solar plant, which is an integral part of the project,' he stated.

'ACME has built a solar portfolio of 6 GWp. Of this, our group currently holds a portfolio of 5.25 GWp that includes 2.2 GWp of operational capacity and another 3.05 GWp is under construction,' he added.

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