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ABC Cleantech Sings MoU with Govt of Karnataka to Set Up Green Hydrogen, Ammonia Plant in Karnataka

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ABC Cleantech announced it had signed a Memorandum of Understanding with the Government of Karnataka to establish a green hydrogen production plant of 0.2 million tonnes/annum and 1 million tons/annum of Green Ammonia. This unit will be part of “INVEST Karnataka 2022” which will include 5 GW of Renewable Energy Projects. The investment required is Rs. 50,000 crores. The proposed manufacturing unit will create employment for approximately 5,000 people in 10 years.

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This MoU was signed by the Chairman and Managing Director of ABC Cleantech, and the Additional Chief Secretary of Government of Karnataka. The Hon’ble Chief Minister Shri Basavaraj Bommai attended the ceremony.

ABC Cleantech Private Limited is part of Axis Energy Group, which is one the most prominent renewable energy players in India. Brookfield and Axis Energy, have formed a joint venture platform called “ABC Renewables”, to develop renewable energy projects.

Dr. E. V. Ramana Reddy (Additional Chief Secretary, Government of Karnataka), commented, “Karnataka was proud to receive the largest Foreign Direct Investments (FDIs) in India last fiscal year, and it is also the most favored state for doing business in terms of ease of doing business.” ‘Invest Karnataka 2022’ aims to attract more businesses to our great state. It also helps to ensure that future generations have a safe and healthy planet. We hope to make a greater contribution to Karnataka by creating jobs and livelihoods. I wish this venture every success.”

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M. Ravi Kumar Reddy (CMD, ABC Cleantech) said that he and his partners were deeply honored to be part of INVEST Karnataka 2022. This proposal will help the country move towards a net zero carbon economy, while also contributing to the local economy. This project will create employment opportunities in Karnataka, especially where it is proposed to be established. It should also boost the state’s wellbeing. I am looking forward to working with the government in Karnataka. I also want to thank the administration and people for their trust and cooperation.

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