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India’s Acme + Germany’s BASF partner on green ammonia: Indian renewable energy company Acme Cleantech and German chemicals company BASF signed a Heads of Agreement (HoA) to supply green ammonia to Europe and an MoU to explore further collaboration in the green ammonia business, according to a statement. No financial details or timeline were disclosed for the collaboration.
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Acme is working in Oman: Norway’s fertilizer manufacturer Yara International signed an agreement with Acme’e subsidiary Green Hydrogen and Chemicals Company (GHC) to buy 100k tons of green ammonia annually from the latter’s Oman plant last March. Acme also signed an MoU with the German liquid organic hydrogen carriers (LOHC) firm Hydrogenious LOHC Technologies to jointly explore the development of hydrogen supply chains from Acme’s Omani plants to hubs in Europe in April.
IN OTHER INDIA UPDATES- India working on carbon credit agreements: India is working to finalize a potential carbon credit agreement with Japan by early 2025 and looking to advance similar talks with South Korea and Singapore, targeting March 2026 completion, Bloomberg reports, citing unidentified sources familiar with the private negotiations. India is hoping to attract investment to fund decarbonization projects that generate credits. Germany and Sweden are also on India’s radar for possible agreements.
COP29 paved the way for the deliberations: India’s bilateral talks are being held under Article 6.2 of the Paris Agreement. The summit had a major breakthrough with an end to the deadlock on global carbon market rules by agreeing to “fully operationalize” Article 6.4 under the Paris Agreement. The regulated system would enable trading carbon credits — each representing one ton of CO2 reduced or removed — on a country level to support governments in meeting emissions targets.
