India, Oct. 21 -- India is set to convert an existing natural gas-fuelled ammonia and urea plant to renewable power, with the project targeting annual green ammonia production of around 1.1 million tonnes. According to Singapore-based Asian Power, the project will be developed by AM Green Ammonia (India) Private Limited and aims to reduce the emissions associated with conventional ammonia production.

The project has received financial backing from the Asian Development Bank (ADB) and Japan. The report identifies it as their first joint investment under the Action for Creating Energy Security for Long-term Resilience (ACCEL) initiative. The financing includes a $100 million loan from the Leading Asia's Private Infrastructure Fund 2, whic...