ONGC is poised to make a substantial investment of Rs 85,000 crore towards establishing a capacity for producing 2 million metric tonnes per annum (mmtpa) of green ammonia by 2035. This ambitious move aligns with the pivotal role of ammonia in serving as both a carrier for hydrogen and energy, boasting the advantage of requiring less energy for liquefaction and transportation.

Green ammonia's versatility is noteworthy; it can either be directly utilized or broken down into green hydrogen and nitrogen after shipping. This adaptability positions green ammonia as a crucial element in the creation of a sustainable green hydrogen economy.

The projected investment indicates an estimated cost of about Rs 40,000 to Rs 42,000 crore for each 1 mmtpa green ammonia project. Consequently, ONGC plans to allocate Rs 80,000 crore to Rs 85,000 crore for the implementation of two such projects.

The company intends to execute this initiative in two phases: the construction of 1 mmtpa in the initial phase, followed by an additional 1 mmtpa in the subsequent phase, thereby generating 180 ktpa of green hydrogen. The production of 1 mmtpa would necessitate approximately 4.5 GW to 5 GW of power.

In line with its commitment to energy transition, the integrated energy major has comprehensive plans encompassing renewable energy and the broader spectrum of new energy domains. ONGC has set aside approximately Rs 2 trillion for investment in energy transition endeavors by the year 2038.

Moreover, recent reports suggest ONGC's intention to establish a distinct entity dedicated solely to its green energy initiatives, marking advanced-stage discussions in this regard.

Recognizing the significance of green hydrogen and green ammonia in its strategic focus areas, ONGC acknowledges the need for collaboration in this emerging sector. To this end, the company is actively engaged in discussions with private entities to form a joint venture for undertaking these pioneering projects. These discussions, currently in an advanced stage, are expected to culminate in an alliance within the next 3 to 4 months.

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