Japanese Consortium to Invest in Green Ammonia Project in India for Japan's First Import
Key Ideas
- Six Japanese companies to invest in a green ammonia production facility in Odisha, India, with a planned annual capacity of 400,000 tons for export to Japan.
- IHI Corporation and MOL to utilize vessels for transportation to Japan while Hokkaido Electric Power explores ammonia use in a coal-fired power plant.
- Mitsubishi Gas Chemical aims to decarbonize ammonia, and Mizuho Bank plans to finance ammonia and hydrogen supply chains by 2030.
- Tokyo Century considers entry into the ammonia business to support carbon neutrality initiatives through green ammonia utilization.
A consortium of six Japanese companies has signed an MoU to explore investment opportunities in a green ammonia production facility in Odisha, India. The facility, established in collaboration with Indian renewable energy company ACME, aims to produce 400,000 tons of green ammonia annually for export to Japan. This initiative is part of Japan's efforts to secure its first import of green ammonia and build a sustainable value chain for its utilization in power generation and other industries. The companies involved, including IHI Corporation, Mitsubishi Gas Chemical, and Tokyo Century, are focused on different aspects of the ammonia value chain, from production to utilization, highlighting their commitment to decarbonization and international cooperation. Mizuho Bank's significant financing plans for ammonia and hydrogen supply chains further emphasize the growing importance of green energy technologies. Overall, the sentiment towards the green ammonia project is positive, with companies recognizing its role in achieving carbon neutrality and promoting sustainable development.