The National Green Hydrogen Mission, approved in January 2023 with an outlay of Rs 19,744 crore, aims to position India as a global hub for the production, utilisation, and export of green hydrogen and its derivatives. Under the Mission, the Strategic Interventions for Green Hydrogen Transition (SIGHT) Programme provides financial support for production through a transparent bidding process conducted by the Solar Energy Corporation of India (SECI). ACME Group has been awarded a production capacity of 3,70,000 tonnes per annum (370 kTPA) under the SIGHT Programme, forming the foundation for these export-oriented agreements.

Under the deal with IHI Corporation, ACME will supply a total of 4,05,000 tonnes per annum (405 kTPA) of green ammonia. This arrangement is supported by Japan’s Contract for Difference (CfD) scheme for low-carbon ammonia, administered by METI, which provides price support to Japanese off-takers, thereby ensuring the long-term commercial viability of such imports.

ACME has also signed a 10-year agreement with Mitsubishi Gas Chemical Company, Inc. for the supply of 1,00,000 tonnes per annum (100 kTPA) of green methanol from its Paradip facility. The project is aligned with global decarbonisation goals, particularly in the maritime sector, and is designed to meet European Renewable Fuels of Non-Biological Origin (RFNBO) requirements as well as International Maritime Organization (IMO) standards for cleaner marine fuels.

During his address, Secretary Ministry of New & Renewable Energy, Santosh Kumar Sarangi said that from the perspective of the Mission, these agreements have delivered three key outcomes-they have created a market linkage with Japan for Green Ammonia and Green Methanol giving confidence to investors, it has shown that Green Hydrogen sector is becoming commercially mature with Indian clean fuels now being positioned as a reliable suppliers to global market and, creation of international green hydrogen and green ammonia value chains.