India-based renewable energy company ACME Group has signed a memorandum of understanding to invest around Rs520 billion ($6.7 billion) to build a green hydrogen and green ammonia project in the Indian state of Karnataka.
ACME Group will set up a 1.2 million tonnes per annum (mtpa) green hydrogen and green ammonia plant associated with captive solar power unit. The project would generate more than 2,000 employment opportunities after completion of the plant. The project is planned between 2022 and 2027.
Shri Basavaraj Bommai, Hon’ble Chief Minister of Karnataka, said, “It has been proved again that Karnataka is the most ideal destination for investments. Karnataka has been successful in drawing highest Foreign Direct Investments among the states in the country. The foreign direct invest [FDI] inflow during the last three
