Black & Veatch in talks to join $2.5bn Oman green hydrogen project
US-headquartered Black & Veatch is in discussion with the lead developer of a planned $2.5bn green hydrogen and green ammonia project in Oman about joining the ACME scheme
US-headquartered Black & Veatch is in discussion with the lead developer of a planned $2.5bn green hydrogen and green ammonia project in Oman about joining the scheme.
India’s ACME groups is planning to develop the $2.5bn green hydrogen and ammonia project at the Special Economic Zone at Duqm (Sezad) in Oman.
“Black & Veatch is very pleased to be in discussion with ACME in supporting the company’s green hydrogen and ammonia project in Oman. Black & Veatch is finalising its engagement plan with ACME for the various stages of the project,” a spokesperson from the company stated in response to a query from the Observer newspaper.
Energy & Utilities recently reported that Oman’s Public Authority for Special Economic Zones and Free Zones (OPAZ) had signed a land reservation agreement with India’s ACME Group for the planned hydrogen and ammonia scheme.
The agreement was signed on 23 August by Ali bin Masoud al-Sunaidi, chairman of Opaz, Manoj Upadhyay, chairperson of ACME, on 23 August.
Under the terms of the agreement, ACME will carry out field studies for the first phase of the project. The studies will include installing anemometers to measure wind speed in Duqm and weather station for surveys and data collection.
Energy & Utilities reported in June that the debt raising process had started for the ACME green hydrogen and ammonia project.
According to sources close to the scheme, a target of reaching financial close for the debt raising process has been set for the end of 2021. The project is being developed by India’s ACME Solar Holdings.
Energy & Utilities reported in April that ACME Solar Holdings had appointed Synergy Consulting as the financial and transaction adviser for the planned $2.5bn project.
The ammonia and hydrogen facility is due to be developed in the Duqm industrial zone, with the aim of supplying green ammonia to Europe, America and Asia.
ACME signed a memorandum of understanding (Mou) with the Oman Company for the Development of the Special Economic Zone at Duqm (Tatweer) in March to develop a facility with the capacity to produce up to 2,200 metric tonnes of green ammonia per day.
ACME is currently developing a pilot green hydrogen and ammonia plant in Rajasthan, India, which is due to start operation in 2021. ACME is the largest solar energy operator in India, with more than 3GW of solar capacity under operation and 3GW under construction.
Energy & Utilities Middle East and Africa Market Outlook Report 2022: Out Now!
The coming years promise opening of new avenues within the energy industry. The latest outlook report from Energy & Utilities highlights the power sector outlook with a focus on both, developed regions, as well as emerging markets.
Explore core findings about the business opportunities, regulatory environment in the Middle East’s power market and more about the planned projects and investments in Africa’s emerging utilities markets in this latest release.
Market Outlook Report 2022
Find out about the business opportunities, regulatory environment in the Middle East's power market and the planned projects and investments in Africa's emerging utilities markets in Energy & Utilities' Middle East and Africa Outlook report.