India's Green Ammonia Auction Sets New Record Low at $0.58/kg

Strategic Insights -

India's green ammonia industry has taken a significant leap forward with the Solar Energy Corporation of India (SECI) announcing a record-low bid of $0.58/kg in its sixth green ammonia auction, awarded to Jakson Green. This bid is a testament to the growing competitiveness of the green ammonia market in India, driven by smart policy, reliable buyers, and transparent auctions. The success of the domestic auction has now paved the way for India to enter the export market, with the country looking to explore partnerships with other geographies.

Key Takeaways:

  • The Solar Energy Corporation of India (SECI) has awarded a record-low bid of $0.58/kg to Jakson Green in its sixth green ammonia auction, breaking the previous record low of $0.60/kg set by NTPC in the second auction.
  • The winning bid of 50.75/kg ($580/tonne) will supply 85,000 tonnes of hydrogen-based ammonia per year to Coromandel International's fertilizer plant in Kakinada, Andhra Pradesh.
  • The successful domestic green ammonia auction has made India confident to enter the export market, with the country looking to explore partnerships with other countries.
  • Other winners in SECIs Mode-2A auctions include ACME Cleantech, NTPC Renewable Energy, Oriana Power, Onix Renewable, and SCC Infrastructure, all securing long-term supply contracts for fertilizer plants nationwide.
  • The SECI has stated that the combination of smart policy, reliable buyers, and transparent auction is creating a highly competitive market for green ammonia in India.
  • The green ammonia auction is part of India's first green ammonia tender under the Sight scheme, Mode-2A, Tranche-I, where SECI is securing supply for 13 fertilizer plants across the country to help the energy transition.

Statistics:

  • Record-low bid: $0.58/kg ($580/tonne)
  • Previous record low: $0.60/kg (set by NTPC in the second auction)
  • Annual supply: 85,000 tonnes of hydrogen-based ammonia
  • Number of winning bidders: 6 (Jakson Green, ACME Cleantech, NTPC Renewable Energy, Oriana Power, Onix Renewable, and SCC Infrastructure)
  • Number of fertilizer plants supplied: 13
  • Country: India

Sources:

  • Global Data Point
  • SyndiGate Media Inc. (Note: This article is based on the text provided and does not include additional information from external sources.)