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Renewables


ACME TO SUPPLY 1 LAKH TONNE GREEN AMMONIA TO NORWAY-BASED YARA


Reuters

A worker walks at the Yara ammonia plant in Porsgrunn, Norway


SYNOPSIS

Norway-based Yara has signed a binding agreement with ACME Cleantech for the
supply of 1 lakh tonne of green ammonia annually from ACME's plant in Oman
through GHC SAOC. The long-term offtake agreement covers the supply of 1,00,000
tonne of renewable ammonia per annum by ACME from phase-1 of its Oman project
with an expected start date in 2027.

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Last Updated: Mar 01, 2024, 07:35:16 PM IST
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New Delhi: Norway-based Yara has roped in ACME Cleantech for supply of 1 lakh
tonne of green ammonia annually from the homegrown entity's plant in Oman. The
binding agreement has been signed through GHC SAOC, which is a wholly owned
subsidiary of Acme Cleantech, ACME Group said in a statement on Friday.

Tired of too many ads? Remove Ads

"Yara, a leading Norwegian company and GHC SAOC today (Friday) signed a firm and
binding agreement for supply of ammonia with reduced Co2 emissions on a
long-term basis," it said.

The long-term offtake agreement covers the supply of 1,00,000 tonne of renewable
ammonia per annum by Acme from phase-1 of its Oman project with an expected
start date in 2027, the company said.

The company is setting its offshore green ammonia project in Oman with a planned
capacity of 9,00 000 tonne per annum to be developed in phases.

    
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The renewable ammonia from ACME's project in Oman will be part of Yara's plans
of developing a cost-efficient supply chain for low-emission ammonia across
different market segments, Magnus Ankarstrand, President, Yara Clean Ammonia,
said.

ACME Group Director Ashwani Dudeja said, "We have concluded the deal with Yara
which will serve as an anchor customer for our solar-based ammonia project being
developed in Oman. This agreement is only a start and will facilitate further
cooperation between the two companies while playing a vital role in accelerating
the adoption of green hydrogen and its derivatives."




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READ MORE NEWS ON

 * ACME
 * green ammonia
 * Norway-based Yara
 * supply
 * Oman
 * Yara
 * GHC SAOC
 * binding agreement
 * ACME Cleantech
 * yara clean ammonia

(Catch all the Business News, Breaking News, Budget 2024  Events and Latest News
Updates on The Economic Times.)

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