The Hydrogen Council has released its first Global Hydrogen Compass report, a state-of-play look at the industry. Ammonia is currently the largest offtake sector for clean hydrogen, accounting for 43% of the 3.6 million tons per year of binding offtake secured to date. Policy and regulatory clarity will be key to locking in further offtake, and developing the impressive global project pipeline.
The Solar Energy Corporation has completed its first subsidy program for renewable ammonia, awarding the thirteenth and final contract this week. ACME Cleantech won six contracts, totalling 370,000 tons production per year.
GMF’s new report finds that both ammonia and methanol fuels are now “ready” for commercial deployment, but a concerted push is required to enable scale-up beyond 2030. The report highlights the increased familiarity (and confidence) from key maritime stakeholders with ammonia fuel, and a recommendation to independently verify emissions from the first ammonia-fueled vessels.
NatWest’s five-year Climate for Transition (CFT) framework will see the UK bank finance £200 billion worth of investments aligned with climate and transition focused finance. Low carbon fuels such as CCS-based and renewable hydrogen and ammonia feature prominently in the framework.
Larsen & Toubro and ITOCHU will develop and commercialise a 300,000 tons per year renewable ammonia plant in Kandla, on India’s west coast. L&T reportedly plans to invest over $5.6 billion in six ammonia production plants around Kandla, serving marine fuel, bunker and export markets.
Following the then-record delivery price submitted in early August, Jakson Green has now committed to supply 85,000 tons per year of renewable ammonia over a ten-year fixed contract, with a fixed delivery price of approximately $580 per ton. Three more price discovery data points were also announced last week, meaning we now have six of the thirteen subsidy winners announced.
Various elements – different definitions for “green” hydrogen, subsidy structures, and transportation & logistics costs – all contribute to the gap between discovered prices for the H2Global and SECI renewable ammonia auctions. More SECI auction results are expected in the coming days and weeks.
ITOCHU has signed a world-first contract with Sasaki Shipbuilding for a 5000 m3 ammonia-fueled, ammonia bunkering vessel. The vessel is set to be delivered by September 2027.
NTPC Renewable Energy is the second successful bidder in a series of renewable ammonia reverse auctions to be facilitated by the Solar Energy Corporation of India. The discovered price of $591 per ton is lower than the “record-breaking” bid from ACME announced last week.
ACME is the first successful bidder in a series of renewable ammonia reverse auctions to be facilitated by the Solar Energy Corporation of India. The discovered price of $641 per ton represents a substantial drop from the previous benchmark of $1,153 per ton of renewable ammonia, set in H2Global’s first auction late last year.