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ACME Green Hydrogen to invest ₹52,474 crore in new plant at Thoothukudi

Our Bureau | | Updated on: Jul 04, 2022
M.K. Stalin, Chief Minister of Tamil Nadu, Thangam Thennarasu, TN Industries Minister; S. Krishnan, TN Industries Secretary at the signing of MOU with Manoj Kumar Upadhyay, CMD, ACME Group, at the TN- Investor’s First Port of Call Investment Conclave -July 2022, in Chennai on Monday

M.K. Stalin, Chief Minister of Tamil Nadu, Thangam Thennarasu, TN Industries Minister; S. Krishnan, TN Industries Secretary at the signing of MOU with Manoj Kumar Upadhyay, CMD, ACME Group, at the TN- Investor’s First Port of Call Investment Conclave -July 2022, in Chennai on Monday | Photo Credit: BIJOY GHOSH

An MoU was signed for the project between the company and the Tamil Nadu government

The Gurugram-based ACME Green Hydrogen and Chemicals Pvt. Ltd. is setting up a green ammonia and green hydrogen factory in the port town of Thoothukudi, Tamil Nadu, at a cost of ₹52,474 crore. This will be one of the largest such plants in the world, said the company’s founder, Manoj Kumar Upadhya, at the Tamil Nadu Investors' First Port of Call-Investment Conclave held on Monday. This was the largest investment announced at the event.

The green ammonia hydrogen will provide chemicals to the fertiliser industry, fuel to the power sector and to the shipping industry. The factory needs four main things-a large piece of land, near the port, solar radiation, and a skilled talent pool-and the State is blessed to have all four, he said at the event.

Tamil Nadu further enhanced its image of being the top State in the country when it comes to clean and renewable energy with two significant projects worth nearly ₹12,000 crore announced at the event.

The US-based Cubic PV will invest ₹8,832 crore to set up a plant in the State with a manufacturing capacity of 4 GW cells and 4 GW modules. Peter Van Mierlo, CFO, Cubic PV, said India is the only global market that has put up a number of measures in place to create the next solar industry. The industry has been moving from the US, to Europe, China and India will be the next place to be. .

The company selected Tamil Nadu because of the government support,talent pool and the number of universities. Three Nobel laureates have come from the State, and they were in Physics and Chemistry - both are at the heart of solar energy, he said.T

TN to lead in renewable energy

Tata Power will invest ₹3,000 crore in Sipcot Gangaikondan in Tirunelveli with a manufacturing capacity of 4 GW cell and 4 GW module. Work is likely to start next month and by next year, around this time, the first phase of the project would be over with the solar modules coming out of the plant, Praveer Singh Singh, MD and CEO, Tata Power, said.

The company has been manufacturing solar cells and modules for the last 30 years and strongly believes that Tamil Nadu can take the lead in renewable energy and the way it can be used. The State has the maximum wind farms in the country of nearly 10 GW and has a huge potential of around 60 GW , he said.

While there is a huge opportunity for wind energy on the ground, offshore wind energy opportunities are there for nearly 35 GW. “I am sure Tamil Nadu will be the first State in the country which will have an offshore green plant,” he said.

Published on July 04, 2022
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