Scatec joins ACME to develop US$2.5bn green ammonia project in Oman

SCATEC 21 march green ammonia projectNorway?s Scatec has signed an agreement with India?s ACME Group to form a joint venture to design, build, own and operate a large-scale green ammonia plant in Oman

The first phase of the facility is expected to produce 100,000 tonnes of green ammonia a year, with an electrolyser capacity of 300MW and 500MW of solar. The project will be located in Oman?s Duqm Special Economic Zone (Sezad). When fully commissioned, the facility will have the capacity to produce up to 1.2 million tonnes of green ammonia a year.

Energy & Utilities reported in August 2021 that Oman?s Public Authority for Special Economic Zones and Free Zones (OPAZ) had signed a land reservation agreement with India?s ACME Group for the development of a US$2.5bn green hydrogen and ammonia project Sezad.

Energy & Utilities reported in June 2021 that the debt raising process had started for the ACME green hydrogen and ammonia project.

According to sources close to the scheme, a target of reaching financial close for the debt raising process has been set for the end of 2021. The project is being developed by India?s ACME Solar Holdings.

ACME Solar Holdings had appointed Synergy Consulting as the financial and transaction adviser for the planned US$2.5bn project.

The ammonia and hydrogen facility is due to be developed in the Duqm industrial zone, with the aim of supplying green ammonia to Europe, America and Asia.

ACME is currently developing a pilot green hydrogen and ammonia plant in Rajasthan, India, which is due to start operation in 2021. ACME is the largest solar energy operator in India, with more than 3GW of solar capacity under operation and 3GW under construction. 

 

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