MoU for green hydrogen facility signed at “Invest Karnataka 2022”

ABC Cleantech announced on November 2nd that it had signed a Memorandum of Understanding (MoU) with the Government of Karnataka as part of ‘INVEST Karnataka 2022’ for setting up a green hydrogen production unit of 0.2 million tons/annum and 1 million tons/annum of Green Ammonia integrated with 5 GW of Renewable Energy Projects with an investment outlay of Rs 50,000 crores. This manufacturing unit is proposed to generate employment for about 5,000 people over 10 years. Chairman and MD of ABC Cleantech and the Additional Chief Secretary to Government of Karnataka, entered this MoU representing the Company and the State respectively. The ceremony was conducted in the presence of the Karnataka chief minister, Basavaraj Bommai.

Commenting on the partnership, E.V. Ramana Reddy, Additional Chief Secretary, Government of Karnataka, said, “It is clear that renewable energy is the only way equitable development and environmental balance can be ensured which will help our state create a safe world for future generations."

Ravi Kumar Reddy, CMD, ABC Cleantech, remarked, “I am confident that this proposal would help the country to move towards a net-zero carbon economy while at the same time contributing to the local economy. The employment opportunities that this project would generate in the State of Karnataka, particularly where this project is proposed to be set up should be a boost for the state’s well-being as well."