ACME & IGX Partner for Green Hydrogen & Ammonia Projects in India
By Rediff Money Desk, NEWDELHI Feb 09, 2024 18:46
ACME Group and Indian Gas Exchange (IGX) sign MoU to explore collaboration in green hydrogen and ammonia projects, aiming to accelerate adoption and decarbonization in India.
![ACME & IGX Partner for Green Hydrogen & Ammonia Projects in India](https://im.rediff.com/money/2018/sep/20renewable.jpg)
New Delhi, Feb 9 (PTI) 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.
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.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.74 (+ 2.62)
- 84886833
- Srestha Finvest
- 2.24 (+ 4.67)
- 34707853
- Ola Electric Mobilit
- 132.76 (+ 19.99)
- 27685743
- Suzlon Energy Ltd.
- 79.93 (+ 4.10)
- 27308498
- IFL Enterprises
- 1.22 (+ 4.27)
- 24757806
MORE NEWS
![Sebi Eases...](https://im.rediff.com/80-80/money/2024/aug/10sebi1.jpg)
Sebi Eases Compliance for Listed NCDs - New...
Sebi proposes amendments to simplify compliance requirements for entities with listed...
![Chandrasekaran:...](https://im.rediff.com/80-80/news/2018/jan/04modi.jpg)
Chandrasekaran: Learn From Indian Wisdom &...
Tata Group Chairman N Chandrasekaran emphasizes the importance of learning from Indian...
JSW Cement Files IPO Papers to Raise Rs 4,000...
JSW Cement has filed draft papers with Sebi for an IPO to raise Rs 4,000 crore. The IPO...