ACME Cleantech to set up green H2, ammonia plant worth Rs. 52,000 crore in Karnataka
Gurugram-based ACME Cleantech Solutions Private Limited has announced that it has signed a Memorandum of Understanding (MoU) with the government of Karnataka to set up green hydrogen and ammonia plant in the state with an investment of around Rs 52,000 crore.
As per the MoU, the company has agreed to establish a Hydrogen and Ammonia Plant with an associated Solar Power unit in Mangaluru, Karnataka. The agreement was signed in the presence of Karnataka Chief Minister Basavaraj Bommai.
The MoU was signed by EV Ramana Reddy, Additional Chief Secretary in the Commerce and Industries Department of Karnataka, and Sandeep Kashyap, Chief Operating Officer of ACME Cleantech Solutions, according to a statement released by the company.
Speaking on the occasion Chief Minister Basavaraj Bommai stated Karnataka is at the forefront of the renewable energy sector and the state government is formulating a Green Hydrogen policy.
Karnataka has always been encouraging new technologies and futuristic projects. The state government would provide all the support and cooperation for the speedy implementation of the project, Bommai said.
"It has been proved again that Karnataka is the most ideal destination for investments. Karnataka has been successful in drawing the highest Foreign Direct Investments among the States in the country. The FDI inflow during the last three quarters is testimony to this achievement," Bommai said.