ADB, Japan Sign Financing Agreements for Green Ammonia Plant in India

The Asian Development Bank (ADB) and the Government of Japan have signed financing agreements with AM Green Ammonia (India) to help build one of the world’s largest plants to make ammonia using renewable energy in India, marking the first investment under the Action for Creating Energy Security for Long-term Resilience (ACCEL).

Masato Kanda, President, ADB, said, “Ammonia is used every day to produce the fertiliser that helps feed the world. This project changes how we make it. By using renewable energy instead of fossil fuels, India can produce it with far lower emissions and at a scale that can help reshape this industry. 

As the first investment under ACCEL, it also shows how ADB and Japan can turn energy security into practical investments in new markets and jobs.”

The project will convert a former ammonia and urea plant from natural gas-fueled production to renewable-powered green ammonia, with capacity to produce about 1.1 million tons per year—supporting a new export industry in India and cleaner production of an ingredient essential to fertiliser and industry. 

The investment includes a USD 100 million loan from the Asia's Private Infrastructure Fund 2, financed by the Japan International Cooperation Agency (JICA) and administered by ADB.

Japan’s Finance Minister Satsuki Katayama, said, "Strengthening resilience of Asia’s energy supply chains is essential. Japan is advancing POWERR Asia, including through ACCEL, and I welcome the first joint project under ACCEL. 

Working closely with ADB, Japan will continue to support the diversification of energy sources, which will strengthen economic resilience across Asia."