Renewable energy firm ACME Group on Friday said it has tied up a Rs 4,000-crore loan from state-owned REC Ltd for its green hydrogen and ammonia project in Oman.
The amount will be used to commence the first phase of the project, to be established at the Special Economic Zone (SEZ) in Duqm, Oman, a company statement said.
Once the first phase is ready, about 100,000 tonnes of green ammonia is expected to be produced per annum initially, which will subsequently go up to 1.2 million tonnes a year. The project will be powered by a 5.5-GWp solar PV plant and have the capacity to generate 3.5 GW electrolyser, the statement said.
