IHI and ACME Signed Term Sheet to Supply Green Ammonia from India to Japan
IHI and ACME Group, a leading renewable energy company in India, today signed a term sheet for the supply of green ammonia from Odisha, India to Japan. The term sheet was signed by Hiroshi Ide, President and CEO of IHI, Shri Manoj Upadhyay, Founder and Chairman of Acme Group in the presence of Union Minister for Power and New & Renewable Energy Shri RK Singh, New & Renewable Energy Secretary Shri Bhupinder Singh Bhalla, and Ambassador of Japan to India Hiroshi Suzuki. Both companies intend to develop the term sheet into a legally binding document within this year.
Under this term sheet, IHI considers off-taking up to 400,000 tons of green ammonia from 2028, which will be supplied to various industrial customers located mainly in Japan. Both companies are in discussion to partner across the value chain, starting from production to logistics, supply to customers and creation of the green ammonia market for use in a range of applications in power generation and industrial uses in Japan to reduce overall emissions across the value chain. This strategic alignment represents the dedication of both companies to build upon the existing strong relationship between the two countries and contribute to both Japan’s Net Zero commitment as well as India’s National Green Hydrogen mission, with a shared vision of sustainability and innovation.
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https://www.ihi.co.jp/en/all_news/2022/resources_energy_environment/1198194_3488.html