BENGALURU: Gurugram-based ACME Cleantech Solutions Private Limited signed an MoU with the Karnataka government on Monday to invest Rs 52,000 crore to establish a hydrogen and ammonia plant with associated Solar Power unit in Mangaluru. The MoU was signed by Dr EV Ramana Reddy, Additional Chief Secretary in the Commerce and Industries department and Sandeep Kashyap, Chief Operating Officer of ACME Cleantech Solutions.
Speaking on the occasion, CM Basavaraj Bommai said that Karnataka is in the forefront in Renewable Energy sector. “Our government is formulating a Green Hydrogen policy. I request ACME Group to make good use of it. The State government would give all support and cooperation,” he assured. He also said it has been proved again that Karnataka is the ideal destination for investments. “Karnataka has been successful in drawing highest Foreign Direct Investments among the states,” he added.
ACME Group which is a global leader in setting up Hydrogen-Ammonia plants has established world’s first Hydrogen-Ammonia, Solar plant in Bikaner, Rajasthan, said a statement issued by the Industries Department. It may be recalled that ReNew had signed an MoU for an investment of `50,000 crore in the renewable energy sector with the state during the recent World Economic Forum in Davos. Energy Minister V Sunil Kumar, Cooperation minister ST Somashekar, Commissioner of Industries department Gunjan Krishna, ACME Group officials MVVS Reddy, Arun Chopra and others were present.