ACME Group and IHI Corporation, a Japanese integrated heavy industry group, have signed an offtake term sheet for supply of green ammonia from Odisha, India to Japan. The term sheet was signed by Founder and Chairman of Acme Group, Manoj Upadhyay and President and CEO of IHI Corporation, Hiroshi Ide, in the presence of Union Minister for Power and New & Renewable Energy R. K. Singh; New & Renewable Energy Secretary Bhupinder Singh Bhalla; Ambassador of Japan to India Hiroshi Suzuki and CMD SECI R. P. Gupta. Under this agreement, ACME and IHI plan to compete with the relatively cheaper but less environment-friendly blue ammonia supply with the active support and incentives being offered by the Central Government of India under National Green Hydrogen Mission (NGHM) and State Government of Odisha.
The Green Ammonia will be produced at ACME’s 1.2 MMTPA Green Ammonia project being developed at Gopalpur in the state of Odisha. Total investment for 1.2 MMT per annum plant will be 5 billion USD. The term sheet between IHI and Acme covers the supply of 0.4 MMTPA (million metric tons per annum) of green ammonia from Phase-1 of Odisha project in Gopalpur on a long-term basis. Both companies wish to partner across the value chain, starting from production to logistics, supply to the Japanese customers and to create the market for green ammonia for use in a range of applications in power generation and various industrial uses in Japan to reduce the overall emissions.
This strategic offtake agreement and partnership represents the dedication of both companies to build upon the existing strong relationship between the two countries and contribute to both India’s National Green Hydrogen mission as well as Japan’s Net Zero commitment, with a shared vision of sustainability and innovation.
