UAE-based Ocior Energy will invest $4.86 billion each into two separate, million tonne-per-year renewable ammonia projects in India.
Andhra Pradesh, Gujarat
In Andhra Pradesh, Ocior’s commitment was one of thirty-five energy-related MoUs announced at a regional investment summit earlier this month. The government of the southeast Indian state aims for Andhra Pradesh to become the renewable energy hub of India, and the list of MoUs includes partnerships with significant ammonia energy players like ReNew Power, Avaada Energy and Greenko (as well as India’s largest utility company – NTPC).
In December last year, Ocior and the Suez Canal Economic Zone signed an MoU for the development of a green hydrogen & ammonia project next to the Suez Canal. Though no further details emerged, SCZONE noted that – during the proceedings of COP27 – the majority of a long list of green fuels MoUs signed in 2022 had been successfully converted to framework agreements, with several feasibility studies approaching completion.