India's Acme Solar rises on Japan joint venture to develop green ammonia project

IHI

11/09/2025 05:21

** Shares of Acme Solar ACMO.NS rise 3.2% to 312 rupees

** Renewable energy co forms JV with Japan's IHI Corp 7013.T to develop one of India's largest green ammonia projects in Odisha

** IHI will acquire 30% stake in JV, ACME to retain the rest; aims to produce 0.4 mln tonnes of green ammonia annually

** Green ammonia used in energy and industrial applications, as a fuel and feedstock to decarbonise sectors

** ACMO also secured a 38.92 billion rupee ($441.58 million) funding from SBI SBI.NS to develop a 400 MW renewable project in Rajasthan

** Stock up ~33% YTD

($1 = 88.1390 Indian rupees)

 (Reporting by Urvi Dugar)

 ((UrviManoj.Dugar@thomsonreuters.com))