ACME & Yara sign deal for green ammonia supply from its Oman project

ACME & Yara sign deal for green ammonia supply from its Oman project

Green Hydrogen and Chemicals (GHC), a wholly-owned subsidiary of Indian renewable energy group ACME Cleantech, has signed a firm and binding agreement with leading Norwegian crop nutrition company, Yara, for the supply of green ammonia on a long-term basis from its proposed green hydrogen project at Duqm SEZ in the Sultanate of Oman. Both companies […]Green Hydrogen and Chemicals (GHC), a wholly-owned subsidiary of Indian renewable energy group ACME Cleantech, has signed a firm and binding agreement with leading Norwegian crop nutrition company, Yara, for the supply of green ammonia on a long-term basis from its proposed green hydrogen project at Duqm SEZ in the Sultanate of Oman.

Both companies had previously signed a non-binding offtake Term Sheet and the current agreement concludes 18 months of negotiations during which the regulatory framework and certification regime have evolved significantly, creating a suitable environment for such long-term contracts.

The long-term offtake agreement between Yara and Acme covers the supply of 100,000 tons per annum of renewable ammonia and possibly the world’s first arm’s length contract for renewable ammonia of this scale and tenure.

Over its life cycle, the project will help reduce global GHG emissions by up to 5.0 million tons of CO2 equivalents. In