Gurugram: ACME Group, India’s leading clean energy conglomerate, plans to establish a Green Methanol manufacturing facility in Odisha with a capacity of 200 KTPA. As the Government of Odisha makes determined efforts to setup new industries in different parts of the State to leverage its competitive edge, ACME has joined hands with Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL) to establish a firm manufacturing base in the State.
The Green Methanol facility is part of the ACME Green Hydrogen Business and will be set-up under a special project vehicle ACME Akshya Energy Pvt Ltd. The project is expected to be established in Kendrapada district of Odisha with an employment potential of more than 1100 new jobs. The project will help advance India’s ambition to become a global hub for green hydrogen and its derivatives. ACME Group and IPICOL will identify a Nodal Officer for early implementation of the Green Methanol Project.
According to Anil Taparia, Chief Operating Officer at ACME Green Hydrogen and Ammonia Business Unit, “Odisha, with a strong green energy ecosystem and deep industrial and port infrastructure, is fast emerging as an important center for manufacturing of green molecules including green methanol. We are setting up multiple green hydrogen and ammonia projects around Paradip and Gopalpur for both domestic and export purposes. Abundant availability of biogenic feedstock along with supportive industrial policies, and low-cost green power supply have created an excellent ecosystem in Odisha for production of green methanol at globally competitive costs.”
Odisha is an important manufacturing destination for ACME Group: Odisha is emerging as an important investment hub for the ACME Group’s Green Hydrogen & Ammonia business. It is planning to establish one of India’s most prestigious Green Ammonia facilities in Gopalpur, Odisha through its joint venture with Japan-based IHI Corporation. This is one of the single-largest foreign collaborations in India’s green hydrogen and ammonia sector. Moreover, ACME is setting up a 2,200 metric tonnes per day capacity green ammonia facility in Paradip, Odisha as it has received six (6) Letters of Award from Solar Energy Corporation of India Ltd. (SECI) under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme Mode-2A, Tranche-I for supply of Green Ammonia to India’s fertilizer sector. Under this LoA, 370,000 metric tonnes per year of green ammonia will be supplied by ACME Group to some of India’s largest chemicals and fertilizer companies for a period of 10 years.
By 2030, the global green methanol market is expected to be driven primarily by shipping decarbonisation, with maritime demand estimated at 5–10 million tonnes per annum, supported by IMO targets and regulations such as FuelEU Maritime. Europe is likely to account for around 40–50% of import demand, with additional pull from bunkering hubs in Singapore, Japan, and South Korea. Irrespective of high number of projects announced, the realistic operational capacity by 2030 is widely expected to be limited to 6–12 MTPA, indicating a tight supply–demand balance. In this context, India, backed by large-scale renewable capacity, port access and policy support under the National Green Hydrogen Mission, can emerge as a competitive exporter, with 0.5–1.0 MTPA plant-scale projects supplying long-term, compliance-driven maritime offtake markets in Europe and Asia.
