ACME Group inks JV pact with Norway's Scatec to develop green ammonia facility in Oman

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Renewable energy company ACME Group said on March 7 that it has signed an agreement with Norway-based Scatec ASA to invest in its Oman Project with a 50-50 joint venture. With this, the group aims to design, develop, build, and operate a large-scale green ammonia facility in Oman.

The first phase of the facility is expected to produce 100,000 tonnes of green ammonia annually, according to a company statement. Also, the facility will be expanded to 1.2 million tonnes per annum with about 3.5 GW of electrolyser capacity, which will be powered by 5.5 GWp of the solar PV plant, ACME said.

The facility will be located in Oman's Duqm Special Economic Zone.

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"We are delighted to partner with Scatec in developing one of the largest and earliest green ammonia projects in the world. Given the strategic location of the project, technical insights and cost-effective solutions that ACME has developed for the project of this kind, along with internationally proven project development capabilities of Scatec, I believe jointly we will be a formidable player in accelerating the adoption of this green fuel globally. We are grateful to the Government of Oman for their vision in building Oman as Green Hydrogen Export Hub and extending their full support to this project," ACME Group founder and Chairman Manoj K Upadhyay said in a statement.

While commenting on the agreement, Scatec CEO Raymond Carlsen said, "Acme Group has been in the forefront of green ammonia production with this project, and in Scatec we can capitalize on our expertise in renewables, project structuring and financing, execution and operation to accelerate the decarburization of the world."