Norway’s Yara agreed to buy ammonia with reduced carbon emissions from India’s renewable energy Acme Cleantech in a long-term deal.
The binding agreement has been signed through GHC SAOC, which is a wholly owned subsidiary of Acme Cleantech, Yara said in a statement on Friday.
To remind, Yara is a Norwegian crop nutrition company and has an expertise in global ammonia production, logistics, and trade.
The long-term offtake agreement covers the supply of 100 000 tons of renewable ammonia per annum by Acme from phase-1 of its Oman project with an expected start date in 2027, the company said.
The company Acme, a renewable energy company, is spearheading the construction of green ammonia project in Oman with a planned capacity of 900 000 ton per annum to be developed in phases.
The renewable ammonia from ACME’s project in Oman will be part of Yara’s plans of developing a cost-efficient supply chain for low-emission ammonia across different market segments, Magnus Ankarstrand, president, Yara Clean Ammonia, said.
Ashwani Dudeja, director ACME Group said: “We have concluded the deal with Yara which will serve as an anchor customer for our solar based ammonia project being developed in Oman. This agreement is only a start and will facilitate further cooperation between the two companies while playing a vital role in accelerating the adoption of green hydrogen and its derivatives.”
