The Indian company secures $540M for $750M green hydrogen and ammonia facility; site work underway in Duqm
Indian renewables developer ACME Group has taken a major step forward in the global green energy race by receiving the first $140 million tranche of funding for its flagship green hydrogen and ammonia project in Oman.
This marks a key milestone in the $750 million venture, which has already secured $540 million in total funding from its backers, reported hydrogeninsight.com.
Located in Oman’s Duqm Special Economic Zone, the 300MW facility will produce 100,000 tonnes of green ammonia annually starting Q1 2027.
The groundbreaking project is being developed in the port town of Duqm, a strategic location that supports large-scale industrial and energy initiatives. Site work has already commenced, and the facility is expected to begin operations in the first quarter of 2027.
A significant development for the project is the binding offtake agreement signed with Norwegian fertilizer giant Yara, which will purchase the entire annual output from the plant’s initial phase—100,000 tonnes of green ammonia
The project reflects growing global interest in green hydrogen and ammonia as sustainable fuel alternatives that align with net-zero emissions goals. Oman, with its abundant solar and wind resources, offers an ideal location for such clean energy ventures.
Green hydrogen from India powers global clean energy partnerships
ACME’s Oman project stands as one of the largest and earliest green hydrogen initiatives by an Indian developer on international soil. The funding and strategic offtake agreement underscore the confidence global investors and buyers are placing in the project and its long-term potential.
This facility is expected to not only boost India’s profile in the international renewables market but also contribute significantly to the global shift toward decarbonised fuels.
