NEW DELHI (Reuters) – Indian renewable vitality firm ACME Group stated on Friday it raised 40 billion rupees ($487.98 million) in recent funding from infrastructure finance agency REC, to begin its inexperienced hydrogen and ammonia undertaking in Oman. The cash can be used for the primary part of the undertaking, which can be established on the particular financial zone in Duqm, Oman, the group stated in a press release. The power is predicted to supply 100,000 tons of inexperienced ammonia yearly in its beginning part. It is going to then be expanded to 1.2 metric million tons each year with about 3.5-gigawatts of electrolyser capability. ACME additionally stated it signed preliminary agreements with REC for over 210 billion rupees of loans.
($1 = 81.9714 Indian rupees)
(Reporting by Sarita Chaganti Singh in New Delhi; Enhancing by Nivedita Bhattacharjee)
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First Printed: Jul 22 2023 | 8:01 PM IST