NRG Matters – India’s top refiner to invest $25bn to achieve net-zero emissions; Avaada Group signs $5bn MoU to invest in green ammonia project

Thu, 2022-08-25 14:13

RIYADH: India’s energy producer Avaada Group has signed a memorandum of understanding to invest 400 billion rupees ($5 billion) in a green ammonia project in the northern state of Rajasthan, according to Bloomberg. 

It is part of the company’s plans to build a 1 million ton-a-year green ammonia facility in the state, creating direct employment for 3,500 people. 

India is promoting the production of green hydrogen and ammonia as it aims to turn carbon neutral by 2070.

Net-zero emissions 

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