One of India’s leading independent solar power producers, Acme Solar Holdings, has announced ambitious plans to expand its renewable power and green hydrogen portfolio.
According to media reports, the company plans to set up 7 gigawatts of renewable power and green ammonia production facilities in the southern state of Tamil Nadu. The venture is expected to entail an investment worth $6 billion.
The company is reportedly negotiating with the state government regarding modalities of this potential investment.
Acme is already working on a green ammonia project in Oman. The company is working with Sweden’s Scatec ASA in a 50:50 joint venture. According to Acme, the project is expected to produce 100,000 tonnes of green ammonia every year in the first phase. This will eventually increase to 1.2 million with 3.5 gigawatts of electrolyzer and 5 gigawatts (peak) of solar power capacity.
The Indian government has announced plans to make use of green hydrogen mandatory for industries like steel, petroleum refineries and fertilizers. India does not have an electrolyzer manufacturing capability at present, but the government is actively working to change that. According to various media reports, the government is expected to bring a production linked incentive scheme to encourage electrolyzer manufacturing.
A number of government-owned companies like NTPC, GAIL, Oil India, and Indian Oil have initiated pilot projects involving small solar power plants paired with electrolyzers. Private sector companies have also been keeping busy with the industry leaders like ReNew Power, Reliance Industries, L&T and Greenko Energy Holdings either forming joint ventures or investing in foreign manufacturers of electrolysers.