NEW DELHI : Gurugram-based ACME Cleantech Options has signed a memorandum of understanding with the Karnataka authorities to speculate ₹52,000 crore for establishing a hydrogen and ammonia plant with related solar energy unit in Mangaluru.
The MoU was signed by EV Ramana Reddy, extra chief secretary within the commerce and industries division of the state authorities and Sandeep Kashyap, chief working officer of ACME Cleantech Options.
Talking on the event, Chief Minister Basavaraj Bommai stated that Karnataka is within the forefront in renewable power sector and the state authorities is formulating a inexperienced hydrogen coverage.
The state authorities would offer all of the assist and cooperation for quick implementation of the venture, Bommai stated.
Taking to Twitter, the chief minister stated: “An MOU was signed in my presence with Gurgaon primarily based ACME Cleantech Options Pvt Ltd Group for an funding of ₹52,000 crores to arrange a Hydrogen & Ammonia unit & allied Photo voltaic Energy Plant in Mangaluru. The convenience of doing enterprise in Karnataka makes it engaging to buyers.”
ACME Group has established the world’s first hydrogen-ammonia, photo voltaic plant in Bikaner, Rajasthan, which has already began manufacturing, stated Vice Chairman of ACME Group Shashi Shekar.
In the course of the latest World Financial Discussion board meet held at Davos in Switzerland, ACME had signed an MoU for an funding of ₹50,000 crore within the renewable power sector with the state.
The state authorities had additionally signed an MoU with ReNew Energy through the Davos meet for funding of ₹50,000 crore in sectors throughout wind, photo voltaic, hybrid energy, battery storage and inexperienced hydrogen.
Supply: Live Mint