ACME Cleantech, Karnataka govt inks MoU for green hydrogen plant
POWER & RENEWABLE ENERGY

ACME Cleantech, Karnataka govt inks MoU for green hydrogen plant

Gurugram-based ACME Cleantech Solutions Private Limited inked a Memorandum of Understanding (MoU) with the Karnataka government proposing to infuse Rs 51,865 crore in the state within five years for installing a green hydrogen and ammonia plant with an allied solar power plant in Mangaluru.

The firm proposes to invest Rs 5,300 crore in the first phase, and Rs 46,565 crore in the second phase. It has proposed to create 1,800 jobs, according to the MoU.

An MOU was inked with ACME Cleantech Solutions Pvt Ltd Group for a Rs 52,000 crores investment to set up a Hydrogen & Ammonia plant & allied Solar Power Plant in Mangaluru. The ease of doing business in Karnataka makes it appealing to investors.

The MoU said the Karnataka government would encourage ACME to obtain all necessary permissions, registrations, clearances, approvals, and incentives from the concerned department of the state government according to its prevailing policies, rules, and regulations.

Chief Minister Basavaraj Bommai, Karnataka Energy Minister V Sunil Kumar, and ACME Group's Vice-President Shashi Shekhar were among those present at the event.

Image Source

Also read: Govt announces new green hydrogen policy to cut down fossil fuel use

Gurugram-based ACME Cleantech Solutions Private Limited inked a Memorandum of Understanding (MoU) with the Karnataka government proposing to infuse Rs 51,865 crore in the state within five years for installing a green hydrogen and ammonia plant with an allied solar power plant in Mangaluru. The firm proposes to invest Rs 5,300 crore in the first phase, and Rs 46,565 crore in the second phase. It has proposed to create 1,800 jobs, according to the MoU. An MOU was inked with ACME Cleantech Solutions Pvt Ltd Group for a Rs 52,000 crores investment to set up a Hydrogen & Ammonia plant & allied Solar Power Plant in Mangaluru. The ease of doing business in Karnataka makes it appealing to investors. The MoU said the Karnataka government would encourage ACME to obtain all necessary permissions, registrations, clearances, approvals, and incentives from the concerned department of the state government according to its prevailing policies, rules, and regulations. Chief Minister Basavaraj Bommai, Karnataka Energy Minister V Sunil Kumar, and ACME Group's Vice-President Shashi Shekhar were among those present at the event. Image Source Also read: Govt announces new green hydrogen policy to cut down fossil fuel use

Next Story
Real Estate

Emaar to invest Rs 1,000 crore in Gurugram housing project

Emaar India, a prominent real estate developer, has announced a major new project in Gurugram, one of the most sought-after residential locations in the National Capital Region (NCR). The company is investing approximately Rs 1,000 crore in the development of a luxury housing project named ‘Amaris.’ The project, situated on Golf Course Extension Road in Gurugram’s Sector 62, will span over 6.2 acres and is expected to feature 522 high-end apartments, with a total development potential of 15 lakh square feet. This project, launched in response to the growing demand for premium residentia..

Next Story
Infrastructure Urban

Punjab-Haryana HC slams ED over IREO money laundering investigation

The Punjab and Haryana High Court criticised the Enforcement Directorate (ED) for conducting a ‘slipshod and unprofessional’ investigation into money laundering cases involving IREO and its functionaries. The court directed the ED's director to address the lapses in the probe. The court noted that the accused company's real estate assets were allowed to be disposed of without proper oversight. Justice Kuldeep Tiwari issued these directives after being informed of a November 6 order by a coordinate bench, in which Gulshan Babbar sought the cancellation of bail granted to IREO MD Lalit Goya..

Next Story
Infrastructure Urban

Capitaland to buy 40% stake in SC Capital Partners for $209.31 mn

Singapore's CapitaLand Investment announced that it plans to acquire a 40 per cent stake in SC Capital Partners Group (SCCP) for $280 million. Additionally, the company intends to invest at least $524 million in SCCP. The acquisition of the 40 per cent stake in SCCP, a Singapore-based real estate investment manager, is expected to increase CapitaLand's funds under management (FUM) by $11 billion. The company explained that this move would strengthen its presence in Japan, its key market, where 76 per cent of the additional $11 billion FUM is located. In its statement, CapitaLand emphasised t..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000