7 months ago
ACME Group to Build $1.4B Green Methanol Plant in Odisha
ACME Group, a big solar energy company in India, is building a huge plant in Odisha to make green methanol.
This plant will cost $1.4 billion and make 200,000 tonnes of green methanol, which is a clean fuel for ships.
The plant is expected to be ready by 2029-30.
ACME is working with a local organization called IPICOL to make this happen.
They are also talking to big shipping companies to buy the green methanol.
This is important because the world wants cleaner fuels for ships to reduce pollution.
The Indian government is also supporting this project to make India a big supplier of green fuels to other countries.
ACME Group is building a $1.4 billion green methanol plant in Odisha, India.
The plant will produce 200,000 tonnes of green methanol annually for marine fuel.
The project is expected to be commissioned by 2029-30.
ACME has signed an agreement with IPICOL for the greenfield plant.
The project is part of India's National Green Hydrogen Mission to decarbonize shipping and meet global demand for sustainable fuels.
- Who
- ACME Group, Industrial Promotion and Investment Corporation of Odisha Ltd (IPICOL)
- What
- Construction of a $1.4 billion green methanol plant
- Where
- Odisha, India
- When
- Commissioning by 2029-30
- Why
- To meet growing demand for sustainable marine fuel and decarbonize shipping
Key facts
- Company
- ACME Group
- Project Cost
- $1.4 billion (₹12,422 crore)
- Location
- Odisha, India
- Production Capacity
- 200,000 tonnes of green methanol
- Project Timeline
- Commissioning by 2029-30
- Funding
- Debt, internal accruals, and potential equity fund raise
- Partners
- Industrial Promotion and Investment Corporation of Odisha Ltd (IPICOL)
- Global Demand
- 5–10 million tonnes per annum by 2030
Quotes
Anil Taparia
Chief Operating Officer (COO) at ACME Green Hydrogen and Ammonia Business Unit
“Discussions with several global financial institutions are underway. IPICOL will largely play the role of a facilitator for the project.”
livemint.com
“We are setting up multiple green hydrogen and ammonia projects around Paradip and Gopalpur for both domestic and export purposes.”
livemint.com
The Energy Research Institute (Teri)
Research institute
“Short-distance shipping takes place on routes between nearby ports. The relatively shorter distances allow the use of cleaner energy, electric propulsion, and biogas.”
livemint.com
Sources
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