ACME Deals Strengthen India-Japan Global Green Fuel Value Chain

New Delhi, Jul 3 (KNN) ACME Cleantech Solutions Pvt. Ltd. (ACME Group) has signed long-term offtake agreements with Japan's IHI Corporation and Mitsubishi Gas Chemical Company (MGC) for the supply of green ammonia and green methanol, marking a significant development under India's National Green Hydrogen Mission (NGHM).

The agreements were signed at Atal Akshay Urja Bhawan in New Delhi. Under the deal with IHI Corporation, ACME will supply 405,000 tonnes per annum (405 kTPA) of green ammonia. The agreement is supported by Japan's Contract for Difference (CfD) scheme for low-carbon ammonia.

Separately, ACME signed a 10-year agreement with Mitsubishi Gas Chemical Company for the supply of 100,000 tonnes per annum (100 kTPA) of green methanol from its Paradip facility. 

The project is intended to meet European Renewable Fuels of Non-Biological Origin (RFNBO) requirements and International Maritime Organization (IMO) standards for cleaner marine fuels.

The National Green Hydrogen Mission, approved in January 2023 with an outlay of Rs 19,744 crore, aims to position India as a global hub for the production, utilisation and export of green hydrogen and its derivatives. 

Under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Programme, ACME has been allocated a production capacity of 370,000 tonnes per annum.

According to the Ministry of New and Renewable Energy, the agreements strengthen international market access for India's green hydrogen derivatives and support the development of global green fuel value chains between India and Japan.

(KNN Bureau)