ACME Group and Japan’s IHI Form Joint Venture for Green Ammonia Plant in Odisha
Major Foreign Collaboration in India’s Renewable Energy Sector
Bhubaneswar : ACME Group, a leading renewable energy company from India, has joined hands with Japan-based IHI Corporation to establish a large-scale green ammonia project in Odisha. The project, located at Gopalpur, is designed to produce 0.4 million tonnes of green ammonia annually, making it one of the largest collaborations in India’s green hydrogen and ammonia sector.
The joint venture company, ACME Clean Energy Private Limited, has already secured land and completed the Front-End Engineering Design (FEED). Under the agreement, ACME Group will retain a 70% ownership stake, while IHI Corporation holds 30%.
Investment and Funding Structure
The project will be financed through a combination of external debt and equity. Japanese Export Credit Agencies (ECAs), along with international financial institutions, are expected to extend debt support. The equity contribution will be shared between ACME Group and IHI Corporation, ensuring a strong financial base for the development.
This venture highlights the growing interest of Japanese companies in India’s renewable energy transition and sets a benchmark for cross-border collaboration in clean fuel production.
Green Ammonia for Export to Japan
Once operational, the Gopalpur facility will primarily serve Japanese end users, particularly in the power and chemical sectors. Green ammonia produced here will contribute to Japan’s long-term decarbonization goals, helping reduce carbon emissions in industries that are traditionally difficult to decarbonize.
The project also aligns with India’s ambition to become a global hub for green hydrogen and ammonia exports, opening up opportunities for the country to strengthen its role in the global renewable energy supply chain.
Strategic Advantages of Odisha
Highlighting Odisha’s importance, ACME Group Chairman Manoj Kumar Upadhyay 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.”
Gopalpur has emerged as a strategic location due to its port connectivity, industrial infrastructure, and access to renewable energy sources, making it ideal for large-scale green hydrogen and ammonia projects.
ACME Group: A Leader in Renewable Energy
Founded in 2003 by Manoj K. Upadhyay, ACME Group is headquartered in Gurugram, Haryana. Initially, the company focused on energy solutions for the telecom sector, but it quickly expanded into solar power, battery storage, and now, green hydrogen and ammonia.
With its strong research-driven approach, ACME has become a pioneer in sustainable energy technologies and is now taking significant steps toward developing India’s green hydrogen economy.
Boost to India’s Green Energy Mission
The joint venture is not just a business partnership but a major milestone in India’s clean energy roadmap. The country has set ambitious targets to become a global leader in green hydrogen production by 2030. Large-scale projects like the ACME-IHI venture are expected to create jobs, attract foreign investment, and reduce dependence on fossil fuels.
Moreover, the export-oriented nature of the project will enhance India’s role as a reliable supplier of clean fuels to international markets.
The ACME-IHI green ammonia plant at Gopalpur, Odisha, stands as a landmark project in India’s renewable energy sector. By producing 0.4 million tonnes of green ammonia annually, it will strengthen Indo-Japanese energy collaboration, contribute to global decarbonization efforts, and place Odisha on the global renewable energy map.
This project reinforces the vision of both countries to accelerate the clean energy transition, making it a win-win for energy security, climate action, and economic growth.
