ACME Group to set up first green hydrogen unit in Odisha for Rs 27,000 crore

Bhubaneswar: Renewable energy entity ACME Group on Friday have signed a Memorandum of Understanding (MOU) with Tata Steel Special Economic Zone limited (TSSEZL) to establish Odisha’s first green hydrogen and green ammonia project at the Gopalpur Industrial Park in Odisha.

This will be the largest single-location green hydrogen and its derivatives manufacturing facility in the country, according to an official source.

The Group plans to set up a 1.3 MTPA green ammonia production facility. This green ammonia will be produced from green hydrogen and the production facilities will be powered by renewable power.

According to the MoU, the ACME Group will acquire 343 acres of land in TSSEZL’s Gopalpur Industrial Park located in Ganjam district to set up the unit with an investment of Rs 27,000 crore in phases. Initially, it will invest around Rs 5,000 crore, said a company official. ACME Group plans to set up a nearly 1.3 MTPA green ammonia production facility at Gopalpur.

The MOU was signed between Manikanta Naik, Managing Director, TSSEZL and Sandeep Kashya, Chief Operating Officer, ACME Group in presence of Hemant Sharma, Principal Secretary, Industries Department, Govt of Odisha and Chairman, Odisha Industrial Infrastructure Development Corporation (IDCO) and Industrial Promotion and Investment Corporation of Odisha limited (IPICOL) and Kalyan Mohanty, Executive Director, IPICOL.

TSSEZL, a 100 per cent subsidiary of Tata Steel, is developing its flagship industrial park, GIP in Odisha’s Ganjam district.