Brookfield Plans to Invest Up to US$600 Million in ACME's Green Molecules Business

en.Wedoany.com Reported - On September 17, Brookfield announced plans to invest up to US$600 million in ACME Cleantech Ventures through the Brookfield Global Transition Fund for the development and construction of green ammonia and green methanol projects in India and Oman. ACME Cleantech Ventures is the holding and development platform for ACME Group's green molecules projects. The transaction is intended to be structured as an equity investment, with the transaction valuation and the final equity stake to be acquired by Brookfield planned to be determined by the end of 2026.

The funds are planned to be allocated to four projects, including Phase II of the green ammonia project in Duqm, Oman, two green ammonia projects in Odisha, India, and one green methanol project. ACME stated that financing for Phase I of the Oman project has already been secured, so this round of Brookfield funding mainly corresponds to its subsequent Phase II and the Indian project portfolio. The use of funds covers the project development and construction stages, and is not a US$600 million construction investment for a single plant.

The Oman project is located in the Duqm Special Economic Zone. The Oman Special Economic Zone and Free Zones Authority, Hydrom, and ACME have previously completed the signing of development and land use agreements for Phase II and Phase III of the project, with the two phases covering a total area of approximately 80 square kilometers. According to the construction plan published by Omani authorities, Phase II and Phase III are each planned to produce approximately 71,000 tonnes per year of green hydrogen and 400,000 tonnes per year of green ammonia. Phase II is scheduled to enter commercial operation in 2030, and Phase III is planned to be commissioned in 2033. The downstream project investment scale announced in June 2026 is approximately OMR 1.6 billion, equivalent to US$4.2 billion.

The Oman Phase II covered by this round of Brookfield funding corresponds to approximately 400,000 tonnes per year of green ammonia and 71,000 tonnes per year of green hydrogen production capacity. The project adopts the route of producing hydrogen from renewable electricity and further synthesizing green ammonia. ACME's existing green molecules project system covers renewable power generation, electrolytic hydrogen production, ammonia synthesis, storage, and export. Subsequent construction of the Oman project will continue to advance in accordance with the signed land development and project implementation framework.

In India, the funds will go to two green ammonia projects in Odisha. Among them, ACME and IHI are advancing a green ammonia project in Gopalpur, with the project company 70% owned by ACME and 30% by IHI. The project land has been secured, and front-end engineering design has been completed. The project database of India's National Green Hydrogen Mission lists Gopalpur Phase I as an under-construction project, with an electrolyzer capacity of approximately 447.74 MW; Phase II is at the announced/planned stage, with a planned electrolyzer capacity of approximately 895.48 MW.

The Indian government previously disclosed that the Gopalpur green ammonia project has a total planned capacity of approximately 1.2 million tonnes per year, with a total investment of approximately US$5 billion, of which the long-term supply arrangement for Phase I covers approximately 400,000 tonnes per year of green ammonia. In July 2026, the Odisha state government further disclosed that ACME and IHI are advancing three projects locally, with a total investment of approximately INR 670 billion, involving green hydrogen, green ammonia, and other industrial projects.

This financing portfolio also includes a green methanol project advanced by ACME in Odisha. In July 2026, ACME signed a green methanol offtake agreement with Mitsubishi Gas Chemical, which plans to purchase approximately 100,000 tonnes per year of green methanol from the project after it enters commercial operation in 2030. The project has currently established clear long-term product offtake arrangements, while the production facilities remain at the development stage.

ACME has also secured multiple long-term green ammonia offtake arrangements. Its Indian green molecules business has obtained a total green ammonia supply volume of 370,000 tonnes per year under the SIGHT mechanism, with customers including Indian fertilizer producers; international offtakers also include Yara, IHI, and Mitsubishi Gas Chemical. This round of Brookfield equity funding will, together with the aforementioned offtake contracts and project development plans, enter the financing, construction, and subsequent commissioning cycle of ACME's green ammonia and green methanol projects.