Acme Group and Indian Gas Exchange (IGX) have signed an agreement to jointly develop green hydrogen and ammonia market within India. The agreement was formalised by Manoj Kumar Upadhyay, Founder and Chairman, Acme Group, and Rajesh Kumar Mediratta, Managing Director and CEO, IGX.
Acme Group boasts a substantial portfolio, exceeding 5GW of renewable energy capacity, which spans operational assets as well as projects in various stages of development across India. In 2021, the company established one of the world’s pioneering green ammonia plants located in Bikaner, Rajasthan.
As reported by mint, with ongoing initiatives in India, Oman, and the US, Acme Group is actively engaged in the advancement of green hydrogen and ammonia projects. The brands ambition is to cultivate a diversified portfolio encompassing ten million metric tons per annum (MMTPA) of green ammonia or its equivalent in hydrogen and derivative products by the year 2032.
Ashwani Kumar Dudeja, Group President and Director, Acme Group, commented, “We’re excited to collaborate with IGX on developing the market for green hydrogen and its derivatives in India. [We are] aiming to pioneer sustainable energy solutions and create a liquid and transparent market for customers”.
Rajesh Kumar Mediratta, MD and CEO, IGX added, “Together, we will develop innovative strategies to accelerate adoption, foster economic growth and advance energy security by creating a short-term tradeable market, leveraging our learnings and experience from developing similar solutions for the natural gas sector”.
