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Last Updated on 25
ACME Group has inked a memorandum of understanding (MoU) with the Indian Gas Exchange at the India Energy Week in Goa to develop green hydrogen and ammonia projects in India.
ACME Group, a leader in renewable energy, brings expertise in large-scale solar power generation and is already venturing into green hydrogen production. Meanwhile, IGX, India's premier gas exchange, boasts experience in creating a transparent and efficient trading platform for natural gas. This synergy of skills positions them well to navigate the nascent green hydrogen and ammonia market.
The agreement covers the partnership across the green hydrogen and ammonia value chain, starting from production to logistics and supply to industrial customers for use in a range of applications, and reduces the overall emissions contributing to the national decarbonization targets, the ACME Group said in the statement
The Memorandum of Understanding (MoU) was signed between Manoj Kumar Upadhyay, Founder and Chairman of ACME Group, and Rajesh Kumar Mediratta, Managing Director and CEO of IGX.
The initiative can unlock significant economic opportunities, create new jobs, and enhance India's energy security by reducing dependence on fossil fuels.
ACME Group is a leading Indian conglomerate specializing in sustainable and renewable energy solutions. Founded in 2003 by Manoj K. Upadhyay, the company has grown into a major player in the Indian energy sector, with a strong focus on solar power, green hydrogen, and green ammonia.
The company is a leading developer, owner, and operator of solar power plants in India, with a total portfolio of over 5 GWp. It has a pan-India presence across 12 states and is involved in all stages of the solar value chain, from project development and construction to operation and maintenance. To further find out more about the solar power projects executed by the ACME group, please refer to our Indian Solar PV Database.
The Indian Gas Exchange is India's first and only national gas exchange platform. It was launched in February 2020 and is currently headquartered in Gurugram, Haryana. IGX facilitates transparent and efficient trading of natural gas contracts across the country, aiming to create a robust and competitive gas market in India.
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