The first ever green hydrogen project on the east coast of India will be set up at an estimated cost of Rs 27,000 crores at the Gopalpur Industrial Park in Odisha.
A Memorandum of Understanding (MoU) was signed between the The Tata Steel Special Economic Zone Limited (TSSEZL) and diversified renewable energy company ACME Group on Friday (August 26) to establish the project.
This will be the largest single location of green hydrogen and its derivatives manufacturing facility in the country.
Under the definitive agreement, ACME Clean Energy Private Limited will acquire 343 acres of land in TSSEZL’s Gopalpur Industrial Park (GIP), located in Odisha’s Ganjam district to set up the unit.
The money will be invested in phases.
The MoU was signed between Manikanta Naik, Managing Director, TSSEZL, and Sandeep Kashyap, Chief Operating Officer, ACME Group, in the presence of Principal Secretary, Industries Department Hemant Sharma and IPICOL Executive Director Kalyan Mohanty.
The ACME Group plans to set up a nearly 1.3 MTPA green ammonia production facility at GIP.
This green ammonia will be produced from green hydrogen, and the production facilities will be powered by renewable power.
The produce will be exported to markets in the west and east from the existing Gopalpur Port facility, which is near the project site.
Speaking about the project, Manikanta Naik said, “We are glad that with plug- and-play infrastructure, multi-modal logistics connectivity, ready environmental clearance, and a clear land title.
ACME Group Founder and Chairman Manoj K. Upadhyay expressed his gratitude to Odisha Chief Minister Naveen Patnaik and other stakeholders for their support of this project.
The Green Hydrogen and Green Ammonia project is likely to strengthen India's chances to become a global hub for Green Hydrogen and its derivatives.
"This project will enable us to offer ‘Make in India’ Green Hydrogen and Green Ammonia to domestic and international markets at a competitive price," Upadhyay added.
