India will convert a natural gas-fuelled ammonia and urea plant to renewable-powered production, with capacity to produce about 1.1 million tonnes of green ammonia annually, backed by financing from the Asian Development Bank (ADB) and Japan.

AM Green Ammonia (India) Private Limited will undertake the project, which ADB described as one of the world’s largest renewable-powered ammonia plants.

It marks the first investment under the Action for Creating Energy Security for Long-term Resilience (ACCEL).

The financing includes a $100m loan from the Leading Asia’s Private Infrastructure Fund 2, financed by the Japan International Cooperation Agency and administered by ADB.

“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,” said ADB President Masato Kanda.

ADB and Japan launched ACCEL in May 2026 to help Asia-Pacific businesses and countries manage rising energy prices and build more resilient energy systems.

The initiative has two tracks: short-term support for corporate liquidity, particularly for small and medium-sized enterprises, and longer-term support for more diversified and sustainable energy systems.