The Green Hydrogen and Chemicals Co. (GHC), a joint venture between the UK unit of India’s ACME Group and Norway-based Scatec ASA, has started basic construction, even though the final financial close for the project has not been completed, according to a report in the Oman Observer.
“The approach we have taken is very disruptive; we are not waiting for a classical FID (Financial Investment Decision), but using an entrepreneur approach, we are putting in our own equity until we get the final financial closure done,” ACME Group CEO Rajat Seksaria was quoted.
Yara International ASA has already signed on for the offtake of phase one of the project, which is expected to be 100,000 mt/y of green ammonia (GM July 15, p. 28). With the second phase, production is expected to grow to around 1.2 million mt/y.