ACME Group, a leading renewable energy company, and Japan-based IHI Corporation have established a joint venture to develop a 0.4 million tonnes per year green ammonia project at Gopalpur, Odisha. The project has secured land, and the Front-End Engineering Design (FEED) has been completed.
The two companies had signed an initial Memorandum of Understanding (MoU) in 2023. Under the joint venture ACME Clean Energy Private Limited, IHI Corporation holds a 30% stake, while ACME Group retains 70% ownership.
Once operational, the facility is expected to produce approximately 0.4 million tonnes of green ammonia annually, marking one of the largest foreign collaborations in India’s green hydrogen and ammonia sector. Funding will come from a mix of external debt from Japanese ECAs, international financial institutions, and equity from the joint venture partners.
Manoj Kumar Upadhyay, Chairman of ACME Group, said, “Odisha offers strategic advantages for energy production and exports. Together with IHI, we will build a future-ready ecosystem that strengthens energy security, generates employment, and contributes to the global fight against climate change.”
The green ammonia produced at Gopalpur will primarily supply Japanese end users in the power and chemical sectors, supporting Japan’s long-term decarbonization goals and advancing India’s position in the renewable energy landscape.
ACME Cleantech Solutions , commonly known as the ACME Group, is a prominent player in the global sustainable and renewable energy sector. Established in 2003 by Manoj K Upadhyay, the company is headquartered in Gurugram, Haryana, India. Mr Upadhyay, a visionary entrepreneur and innovator, has been at the forefront of introducing cutting-edge technology solutions, driven by extensive research and a forward-thinking approach. In its early years, ACME’s solutions were primarily designed to optimize energy consumption within the telecom industry
