Manila, October 15 (AseanAll) — The Asian Development Bank (ADB) and the Government of Japan have signed financing agreements with AM Green Ammonia (India) Private Limited to help build one of the world’s largest plants to make ammonia using renewable energy in India, marking the first investment under the Action for Creating Energy Security for Long-term Resilience (ACCEL).
“Ammonia is used every day to produce the fertilizer that helps feed the world,” said ADB President Masato Kanda. “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. As the first investment under ACCEL, it also shows how ADB and Japan can turn energy security into practical investments in new markets and jobs.”
The project will convert a former ammonia and urea plant from natural gas-fueled production to renewable-powered green ammonia, with capacity to produce about 1.1 million tons per year—supporting a new export industry in India and cleaner production of an ingredient essential to fertilizer and industry. 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.
"Strengthening resilience of Asia’s energy supply chains is essential. Japan is advancing POWERR Asia, including through ACCEL, and I welcome the first joint project under ACCEL," said Japan’s Finance Minister Satsuki Katayama. "Working closely with ADB, Japan will continue to support the diversification of energy sources, which will strengthen economic resilience across Asia."
ACCEL was launched in May 2026 by ADB and Japan to help countries and businesses in Asia and the Pacific manage rising energy prices and build stronger energy systems for the future. The initiative works on two tracks: first, supporting corporate liquidity in the short term, particularly for small and medium-sized enterprises, and second, supporting a transition toward more diversified and sustainable energy systems in the medium to long term. Japan supports ACCEL through its Japan-financed and ADB-administered trust funds and through collaboration with Japanese development finance institutions, including JICA and the Japan Bank for International Cooperation (JBIC), to maximize development impact.
ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.
