ADB, Japan provide financing for AM Green’s ammonia project in India
In Bulgaria, Renewables Now reported that the Asian Development Bank (ADB) and Japan’s government have signed financing agreements with AM Green Ammonia (India) Private Limited to support the construction of a large-scale green ammonia in India.
The project will transform a former ammonia and urea plant from natural gas-fueled production to making ammonia based on renewable energy. It will be delivered in two phases with a total capacity to produce about 1.1 million tons per year, according to the report.
ADB said on Thursday that the investment includes a $100-million loan from the Leading Asia’s Private Infrastructure Fund 2, which is financed by the Japan International Cooperation Agency (JICA) and administered by the bank. The deal marks the first investment under the Action for Creating Energy Security for Long-term Resilience (ACCEL), which was launched earlier this year by ADB and Japan to help countries and businesses in Asia and the Pacific cope with rising energy prices and strengthen their energy systems.
Category: Fuels
