India-based renewable energy company ACME Group has signed a memorandum of understanding to invest around $6.7 billion to build a green hydrogen and green ammonia project in the Indian state of Karnataka.

The company's chief operating officer Sandeep Kashyap signed the memorandum of understanding with Dr EV Ramana Reddy, the additional chief secretary of the Karnataka government's Ministry of Commerce and Industry. The signing ceremony was also attended by Karnataka Chief Minister Basavaraj Bommai and other officials.

Under the terms agreed, ACME Group will build a green hydrogen and ammonia plant in the state with an annual capacity of 1.2 million tonnes. The plant will also have an additional solar installation. The facility is expected to be completed within the next five years, while the state government will assist ACME Group in securing all necessary registrations, approvals and permits for the project.

Manoj Kr Upadhyay, founder and chairman of ACME Group, said: "We are delighted to be working with Karnataka on one of the world's largest and earliest green ammonia projects. Will be a strong player in accelerating global adoption of green fuels. Thank you card The Nataka state government has a vision to build the state into a green hydrogen hub and fully supports the project. Keywords: engineering construction, engineering news

In 2021, ACME Group signed an agreement with Scatec to jointly develop a 900 MW solar power plant in the Indian state of Rajasthan. The company has agreed to provide turnkey engineering, procurement and construction services for the project, which has a 25-year power purchase agreement with Indian Solar. ACME Group is also building an integrated semi-commercial scale project for a green hydrogen and green ammonia plant in Bikaner, Rajasthan.Editor/XingWentao