ACME Group to invest Rs 1.5 trn in green hydrogen over 7 yrs; seeks tie-ups

Plans come at a time when govt is likely to announce a green hydrogen purchase obligation for fertiliser and petroleum units, similar to renewable purchase obligation

At a time when India is set to bring out a comprehensive green hydrogen mission, Gurugram-based ACME Group has said it is planning to invest about Rs 1.5 trillion in green hydrogen and ammonia over seven years, for its upcoming units in Tamil Nadu, Karnataka and Oman. The company is also looking for foreign equity partners and off-take tie ups for these projects.

On Monday, ACME group had signed a memorandum of understanding with the Tamil Nadu government to come up with a Rs 52,474-crore facility in Thoothukudi, consisting of a 5,000 mega watt (Mw) solar PV plant,