19 March 2024 | New Delhi: Shardul Amarchand Mangaldas & Co. advised ACME Cleantech Solutions Private Limited (“Seller”) on the offtake agreement for the long-term sale and purchase of 100,000 tonnes per annum of green ammonia by Yara International ASA (“Buyer”), Europe’s largest fertilizer maker. The date of signing the deal was 01st March, 2024.
This deal marks one the world’s first arm’s length long term green ammonia offtake agreements. The green ammonia is to be delivered from Phase - 1 of ACMEs predominantly solar based project in Oman which has an expected start date in 2027.
The energy and infrastructure team were led by Prashant Sirohi, Partner; Varnika Mohan, Principal Associate; and Rudra Shanker, Associate.
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