THEBUSINESSBYTES
BUREAU
GURUGRAM, JANUARY 28, 2026
In a major
boost to India’s clean energy ambitions, ACME Group, one of the country’s
leading clean energy conglomerates, has joined hands with the Industrial
Promotion and Investment Corporation of Odisha Limited (IPICOL) to establish a
large-scale Green Methanol manufacturing facility in Odisha, positioning the
state as a key player in the global green fuels ecosystem.
Under this
strategic collaboration, ACME Group plans to set up a 200 KTPA Green Methanol
plant in Kendrapada district through its special purpose vehicle, ACME Akshya
Energy Pvt Ltd. The project, part of ACME’s rapidly expanding Green Hydrogen
business, is expected to generate more than 1,100 direct and indirect
employment opportunities while significantly contributing to India’s vision of
becoming a global hub for green hydrogen and its derivatives. ACME Group and
IPICOL will jointly appoint a Nodal Officer to ensure swift implementation of
the project.
The
initiative aligns closely with the Odisha government’s determined push to
attract new industries by leveraging the state’s robust industrial base,
port-led infrastructure and renewable energy potential. With its strategic
coastal location and policy-driven industrial ecosystem, Odisha is increasingly
emerging as a preferred destination for manufacturing next-generation green
molecules.
Highlighting
the state’s advantages, Anil Taparia, Chief Operating Officer, ACME Green
Hydrogen and Ammonia Business Unit, said that Odisha’s strong green energy
ecosystem, deep industrial capabilities and access to ports make it ideal for
globally competitive green methanol production. He noted that ACME is already
developing multiple green hydrogen and ammonia projects around Paradip and
Gopalpur for domestic consumption and exports, supported by abundant biogenic
feedstock, favourable industrial policies and low-cost green power.
Odisha is
fast becoming a cornerstone of ACME Group’s green energy strategy. The company
is planning one of India’s most prestigious green ammonia facilities in
Gopalpur through a joint venture with Japan-based IHI Corporation, marking one
of the largest foreign collaborations in the country’s green hydrogen and
ammonia sector. Additionally, ACME is setting up a 2,200 metric tonnes per day
green ammonia plant in Paradip after securing six Letters of Award from the
Solar Energy Corporation of India under the SIGHT Scheme, Mode-2A, Tranche-I.
Through this initiative, ACME will supply 370,000 metric tonnes of green
ammonia annually for a decade to some of India’s largest fertilizer and
chemical companies.
The Green
Methanol project comes at a time when global demand is poised for rapid growth,
driven primarily by shipping decarbonisation. By 2030, maritime demand for
green methanol is estimated at 5 to 10 million tonnes per annum, supported by
stringent International Maritime Organization regulations and initiatives such
as FuelEU Maritime. Europe is expected to account for nearly half of global
import demand, with strong additional pull from bunkering hubs in Singapore,
Japan and South Korea. Despite numerous project announcements worldwide,
realistic operational capacity by 2030 is projected to remain limited, creating
a tight supply–demand balance.
Against this
backdrop, India, with its vast renewable energy capacity, strong port
infrastructure and policy backing under the National Green Hydrogen Mission, is
well placed to emerge as a competitive exporter of green methanol. Large-scale
projects such as ACME’s Odisha facility could play a pivotal role in supplying
compliance-driven maritime fuel markets across Europe and Asia, firmly placing
Odisha and India on the global green methanol map.
