ACME Group on Friday said it has signed an agreement with gas exchange IGX to explore opportunities of collaborations for developing green hydrogen and ammonia projects in India. The Memorandum of Understanding (MoU) was signed between Manoj Kumar Upadhyay, Founder and Chairman of ACME Group, and Rajesh Kumar Mediratta, Managing Director and CEO of IGX, at the ongoing India Energy Week in Goa, a statement said.
The agreement covers the partnership across the green hydrogen and ammonia value chain, starting from production to logistics and supply to the industrial customers for use in a range of applications and reduce the overall emissions contributing to the national decarbonization targets, the ACME Group said in the statement.
Ashwani Kumar Dudeja, Group President and Director of ACME Group, said, “We’re collaborating with IGX on developing the market for green hydrogen and its derivatives in India, aiming to pioneer sustainable energy solutions and create liquid and transparent market for customers.”
IGX MD & CEO Mediratta said, the two entities will develop innovative strategies to accelerate adoption, fostering economic growth and advancing energy security for a sustainable future by creating a short-term tradeable market leveraging “our learnings and experience from developing similar solutions for the natural gas sector”.
ACME Group is one of the largest renewable Independent Power Producers (IPP) in India with a portfolio of more than 5 GWp of renewable energy capacity under operation as well as at various stages of implementation.
The Indian Gas Exchange (IGX) is the country’s first automated exchange which allows trading of gas.
