On October 14, the “Asia Infrastructure Partnership Trust Fund 2 (‘Leading Asia’s Private Infrastructure Fund 2’: LEAP 2), the Asian Development Bank (ADB) signed a loan agreement with AM Green Ammonia (India) Private Limited, a green ammonia*1 producer in the Republic of India. This project is the first project certified under the “Action for Creating Energy Security for Long-term Resilience (ACCEL)*2” initiative promoted by the ADB and the Government of Japan, and up to US$100 million of the funding will be provided through LEAP 2.
LEAP2 is a trust fund of up to 1.5 billion U.S. dollars that JICA contributes to the ADB, with the aim of providing loans and grants for high-quality infrastructure projects implemented by the private sector in ADB-eligible countries in Asia and the Pacific. Projects funded by LEAP2 include those that reduce greenhouse gas emissions, improve energy efficiency, and provide affordable and accessible healthcare, education, and telecommunications services.
Funds from this project will be used to finance the conversion of an existing natural gas-fired ammonia and urea production plant in the Republic of India into an ammonia production facility powered by electricity generated from renewable energy sources. While ammonia is an essential raw material for fertilizers and various industrial applications, fossil fuels are widely used in its production process, making decarbonization a global challenge. This project aims to shift away from fossil fuel-based ammonia production by converting the facility into one of the world’s largest green ammonia production facilities, with an annual production capacity of approximately 1.1 million metric tons. It is also expected to contribute to the creation of a new green ammonia export industry in India and to the advancement of the country’s energy transition.
This project is expected to contribute to reducing greenhouse gas emissions and strengthening energy security. Furthermore, as the first project certified under the ACCEL initiative—launched by the ADB and the Government of Japan in May 2026—it is expected to contribute to promoting private-sector investment and fostering market development in the green hydrogen and green ammonia sectors, thereby advancing the diversification of energy sources and the transition to a decarbonized society in the Asia-Pacific region.
* 1. Green ammonia is ammonia produced using electricity generated from renewable energy sources. Compared to conventional ammonia, which is produced using fossil fuels as raw materials or energy sources, green ammonia can significantly reduce greenhouse gas emissions.
* 2. ACCEL aims to support countries and companies in the Asia-Pacific region in responding to soaring energy prices and building more resilient energy systems for the future. ACCEL consists of two pillars: in the short term, providing liquidity support primarily to small and medium-sized enterprises (SMEs); and in the medium to long term, supporting the diversification of energy sources and the transition to sustainable energy systems. The Government of Japan supports ACCEL through contributions to the trust fund by JICA and collaboration with organizations such as the Japan Bank for International Cooperation (JBIC).
・Contributing to the SDGs
Goal 7 (Affordable and Clean Energy for All)
Goal 9 (Build the Foundations for Industry and Innovation)
Goal 13 (Take concrete action on climate change)
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