ABC Cleantech to invest USD 6bn in Indian green H2, ammonia project
Source: ARENA (arena.gov.au)
ABC Cleantech, part of Indian renewables developer Axis Energy Group, has signed a Memorandum of Understanding (MoU) with the government of Karnataka to build a green hydrogen plant underpinned by 5 GW of renewable energy supply in the Indian state.
The company’s plan envisages an overall investment of INR 500 billion (USD 6.04bn/EUR 6.1bn), it said on Wednesday.
Once in operation, the proposed facility will be capable of producing 0.2 million tonnes of green hydrogen and 1 million tonnes of green ammonia per year. The process will be powered by electricity coming from 5 GW of renewable power plants.
ABC Cleantech expects the manufacturing site to create around 5,000 job positions over 10 years.
Axis Energy is developing renewable energy projects through a joint venture platform with Canadian asset management firm Brookfield. Dubbed ABC Renewables, the company has a pipeline with more than 2 GW of projects in various stages of implementation. This summer, it put on stream a 445-MWp solar park in the state of Rajasthan on behalf of Indian state-run energy company NTPC Ltd.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.