Diversified renewable energy company ACME Group today signed the land agreement with Tata Steel Special Economic Zone Limited (TSSEZL) for 343 acres for its Green Hydrogen and Green Ammonia project at the Gopalpur Industrial Park (GIP) in Odisha, making it the first ever Green Hydrogen project of the State. ACME Group plans to partner with Japan’s IHI Corporation for this project.

The agreement was signed between Shri Manikanta Naik, Managing Director, TSSEZL, and Shri Sandeep Kashyap, Chief Operating Officer, ACME Group, in the presence of Shri Hemant Sharma, IAS, Principal Secretary, Industries Department and Chairman, IDCO & IPICOL, Government of Odisha. 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 project will be established at Tata Steel Special Economic Zone’s Gopalpur Industrial Park at Gopalpur in Ganjam District of Odisha.

The Green Ammonia produced at this facility will be exported to markets in West and East from the existing Gopalpur port facilities.

Mr. Manoj K Upadhyay, Founder & Chairman, ACME Group said, “We are grateful to the Hon'ble Chief Minister of Odisha Shri Naveen Patnaik Ji, Department of Industries, Govt of Odisha, and other stakeholders for extending support to ACME Group's Green Hydrogen and Green Ammonia project in the State. We have signed the land agreement with Tata Steel Special Economic Zone Limited (TSSEZL) for setting up the facilities. We extend our sincere gratitude to the Hon’ble Union Minister for Power, New and Renewable Energy Shri R K Singh Ji and Ministry of New and renewable Energy for their constant support and persuasion to take up the Green Hydrogen and Green Ammonia project to make India a global hub for Green Hydrogen and its derivatives. This project will help us to offer Make In India Green Hydrogen and Green Ammonia to domestic and international markets at competitive price. We are also happy to announce the great outcome of the recently held Invest Odisha Summit in Tokyo led by Hon'ble Chief Minister of Odisha and delegation, which will be fructified through this project. Japan’s IHI signed a preliminary agreement during the summit to invest in green energy project in Odisha.”

Mr Hemant Sharma, IAS, Principal Secretary, Industries Department and Chairman, IDCO & IPICOL, Government of Odisha, said, "We envision Odisha as the hub of Green Hydrogen and Green Ammonia and a leader in the Green Fuel Economy. The state government is firmly committed to green energy, recognizing it as the fulcrum of our future. To catalyze this vision, we're offering best-in-class incentives. Our progressive policy is a testament to our dedication towards a sustainable and prosperous future.”

Mr Manikanta Naik, Managing Director, Tata Steel Special Economic Zone Limited, said, "We are glad that with plug-and-play infrastructure, multi-modal logistics connectivity, ready environmental clearance, and a clear land title, Gopalpur Industrial Park, in a very short span since its inception, is fast emerging as the preferred investment destination of India. We would also like to thank the government of Odisha for its industry-friendly policies and incentives that are attracting investments to the state of Odisha." "We already have some valued clients operational in the industrial park and attracted investment of around Rs 4,000 crore, and we are eagerly looking forward to a lot more investors coming forward, adding to the industrial progress of the region, " he added. TSSEZL, a 100% subsidiary of Tata Steel, is developing its flagship industrial park, Gopalpur Industrial Park (GIP), in Odisha’s Ganjam district. The company aims to develop the GIP as an emerging manufacturing hub for both domestic and export-oriented industries.

About ACME Group:

ACME Group (www.acme.in) set up in 2003, is a pioneer in cleantech sectors such as solar, green hydrogen & ammonia and sustainable green protein development. In 2003, the Company invented fit for market products in telecom passive infrastructure space including Power Interface Unit (PIU) and Phase Change Material (PCM). This helped in significant energy savings, contributing lowering calling rates. In the next decade, ACME became India’s first IPP to achieve, build and operationalize a solar power plant with subsidy free tariff of INR 2.44 INR/kWh. ACME’s $0.03/kWh tariff broke the grid parity barrier for renewable power making it cheaper compared to average cost of thermal power by around 25% and accelerated adoption in solar power in India.

At present, ACME has solar power projects across 12 States and capex invested and committed of nearly $8 billion. In the past, ACME has undertaken transactions with Actis, Petronas, NIIF, Renew, BAML, Brookfield, Piramal, APG and Allianz, among others. Since 2020, ACME has diversified into green hydrogen and green ammonia. In 2021, ACME commissioned world’s first green hydrogen and green ammonia plant in Bikaner, Rajasthan. ACME envisions to become a leading green energy provider in the world by 2032 and producing 10 million tons/year of green ammonia and hydrogen. The Company is committed to bring sustainability in some of the toughest sectors to decarbonize like food, agriculture, steel, shipping, cement, aluminum etc.

About Tata Steel Special Economic Zone Limited:

Tata Steel Special Economic Zone Limited, a 100% subsidiary of Tata Steel Limited, is developing its flagship industrial park in Odisha, known as Gopalpur Industrial Park. The company plans to develop the industrial park as an emerging manufacturing hub for both domestic and export-oriented industries. The company provides common infrastructure facilities, plug-and-play utility infrastructure, and associated services to facilitate the smooth grounding of the incoming units. For more information, please visit www.tatasteelsez.com.

For any queries, please mail at: pr@acme.in