ABC Cleantech, a part of Hyderabad-based renewables developer Axis Energy Group, has announced that it has signed a Memorandum of Understanding (MoU) with the Government of Karnataka to invest around $6 billion to set up a 5 GW green hydrogen and ammonia plant in the state.
The facility will have the capacity to produce 0.2 million ton of green hydrogen per year and 1 million ton of green ammonia per year, with 5 GW of renewable energy projects.
The company expects the manufacturing unit to generate employment for about 5,000 people over 10 years.
Axis Energy, in partnership with Canadian asset management firm Brookfield, has set up a joint venture platform ABC Renewables to develop renewable energy projects. This JV has more than 2 GW of projects under various stages of implementation and it recently commissioned a 445 MWp solar power project in Rajasthan in record time.
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