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Renewable energy group ACME partners with Scatec to develop large-scale green ammonia facility

 Last Update: 2022-04-24
 Source: Internet
 Author: User

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Renewable energy company ACME Group signed an agreement with Norway-based Scatec on Monday for a 50:50 joint venture to invest in its projects in Oman, according to energy economy news on March 8.
, to design, develop, construct and operate a large-scale green ammonia facility
.

According to an official press release, the first phase of the facility is expected to produce 100,000 tons of green ammonia per year and will be expanded to 1.
2 million tons per year, with an electrolyser capacity of approximately 3.
5 GW, which will be powered by a 5.
5 GW solar photovoltaic plant
.

Manoj K Upadhyay, founder and chairman of ACME Group, said: "Given the strategic location of the project.
.
.
I am confident that together we will be strong players in accelerating the global adoption of this green fuel
.

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

"The partners are in advanced discussions with reputable off-takers on a 20- to 25-year contract that will set the stage for project financing," he said.
"The partners are looking to
fund the facility through equity and project financing debt
.

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