Japan backs $3B, 25-year support for Odisha green ammonia exports
Business
Japan is putting $3 billion into India's green hydrogen push, backing the ACME Group-IHI Corporation green ammonia joint venture's new plant in Odisha.
This deal means 25 years of price support for over 200,000 metric tons of green ammonia exports each year starting September 2030, a big step for clean energy.
IHI Corporation and Sumitomo Chemical buyers
Unlike many projects struggling to find buyers, this plant already has Japanese companies like IHI Corporation and Sumitomo Chemical lined up.
Plus, with extra support from Japan's decarbonized power auction, the plant will run at full capacity, and ACME is building an even bigger one in Paradip by 2029.
Together, these moves put India on the map as a serious player in global green energy.