The Asian Development Bank (ADB) and the government of Japan have signed financing agreements with AM Green Ammonia to build one of the world’s largest renewable energy-powered ammonia plant in India, marking the first investment under the Action for Creating Energy Security for Long-term Resilience (ACCEL) initiative.
ADB President Masato Kanda said that the project would help reduce emissions from ammonia production by replacing fossil fuels with renewable energy, while strengthening India’s energy security and creating new markets and jobs.
“Ammonia is used every day to produce the fertilizer 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,” Kanda said.The project will convert an existing ammonia and urea plant from natural gas-based production to renewable energy-powered green ammonia production, with an annual capacity of about 1.1 million tonnes. It is expected to support the development of a new export industry in India while enabling cleaner production of a key ingredient used in fertilisers and other industrial applications.The investment includes a $100 million loan from the Leading 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 the resilience of Asia’s energy supply chains was essential, welcoming the project as the first joint investment under ACCEL.
“Working closely with ADB, Japan will continue to support the diversification of energy sources, which will strengthen economic resilience across Asia,” Katayama said.
Launched in May 2026 by ADB and Japan, the ACCEL initiative aims to help countries and businesses in Asia and the Pacific manage rising energy prices and build more resilient energy systems.
