During the India Energy Week in Goa, an agreement was solidified between ACME Group and the Indian Gas Exchange (IGX). Rajesh Kumar Mediratta, the Managing Director and CEO of IGX, and Manoj Kumar Upadhyay, the Founder and Chairman of ACME Group, jointly signed the memorandum of understanding (MOU) to formalize the collaboration.
Indian Gas Exchange (IGX) is India’s first authorized gas exchange platform, facilitating transparent and efficient trading of natural gas. IGX provides a robust marketplace for buyers and sellers to transact gas contracts with ease. IGX offers a secure and reliable platform for price discovery, risk management, and liquidity enhancement in the gas market, contributing to the growth of India’s energy sector and fostering competition.
ACME Group specializes in the development, installation, and operation of solar photovoltaic (PV) projects. It delivers clean and affordable solar power solutions to industries, utilities, and communities across the country. Leveraging its expertise in project development, engineering, and operations, ACME continues to expand its renewable energy portfolio, driving the transition towards a greener and more sustainable future.
Utilizing ACME Group’s specialized knowledge in green hydrogen and ammonia alongside IGX’s proven track record in creating liquid and exchange-traded markets for natural gas, the two entities are uniting to foster a physical trading platform for green molecules nationwide. Their initial focus involves establishing regional centers in close proximity to hydrogen and ammonia projects, with future plans to expand to a centralized hub serving the entire country.
By facilitating the adoption of green molecules across diverse sectors, this partnership aims to curtail emissions and support India’s decarbonization goals. Ashwani Kumar Dudeja, serving as Group President and Director at Acme Group, conveyed his excitement regarding the collaboration, stressing the shared dedication to driving sustainable energy initiatives and establishing an open marketplace to benefit customers.
Rajesh Kumar Mediratta, the Managing Director and CEO of IGX, echoed Dudeja’s enthusiasm, underscoring their joint endeavors to expedite the adoption of environmentally friendly hydrogen and ammonia. He emphasized their mutual objective of fostering economic prosperity, bolstering energy resilience, and forging a more sustainable future through inventive approaches and drawing upon their expertise in natural gas sector innovation.