Financing through JICA-funded “LEAP2” (Private Sector Investment Finance) for a Green Ammonia Project in India: First project approved under ACCEL by ADB and the Government of Japan

［Goal 7］ Affordable and Clean Energy
SDGs
［Goal 9］ Industry, Innovation and Infrastructure
SDGs
［Goal 13］ Climate Action
SDGs

2026.10.21

On October 14, the Asian Development Bank (ADB) has signed an investment agreement with AM Green Ammonia (India) Private Limited, a green ammonia producer in the Republic of India, for a green ammonia*1 production project. The project is the first investment approved under the Action for Creating Energy Security for Long-term Resilience (ACCEL)* 2. Of the total financing package, up to USD 100 million will be provided through JICA-funded LEAP2.

LEAP2 is an ADB-managed fund with a commitment of up to 1.5 billion US dollars from JICA. It focuses on providing financing for high-quality private-sector infrastructure projects in ADB’s developing member countries in Asia and the Pacific. Projects supported by LEAP2 include initiatives to reduce greenhouse gas emissions, improve energy efficiency, and enhance access to affordable healthcare, education, and telecommunication services.

The financing will support the conversion of an existing natural gas–based ammonia and urea production facility into a renewable energy-powered green ammonia production plant in India. Ammonia is an essential input for fertilizer production and a wide range of industrial applications, but its production has traditionally relied on fossil fuels, making decarbonization of the sector a global challenge. The project will establish one of the world’s largest green ammonia plants, with an annual production capacity of approximately 1.1 million tons, helping shift ammonia production away from fossil fuel-based processes. It is also expected to support the development of a new green ammonia export industry in India and advance the country’s energy transition.

The project is expected to contribute to reducing greenhouse gas emissions through large-scale production of green ammonia powered by renewable energy, while strengthening energy security through diversification of energy sources and supply chains. As the first project approved under ACCEL, it is also expected to promote private sector investment and market development in the green hydrogen and green ammonia sectors, supporting energy diversification and the transition toward sustainable energy systems across Asia and the Pacific.

  • ※1. Green ammonia refers to ammonia produced using renewable electricity. Compared with conventional ammonia produced using fossil fuels as feedstock or energy sources, it can significantly reduce greenhouse gas emissions.
    　　　　　　　　　　　　　　　　　　　　　　　
  • ※2. Action for Creating Energy Security for Long-term Resilience (ACCEL) is an initiative that aims to help countries and businesses across Asia and the Pacific manage rising energy prices and build stronger energy systems for the future. The initiative operates on two tracks: supporting corporate liquidity in the short term, particularly for small and medium-sized enterprises, and supporting the transition toward more diversified energy sources and sustainable energy systems over the medium to long term. The Government of Japan supports ACCEL through JICA-funded LEAP and collaboration with the Japan Bank for International Cooperation (JBIC).

- Contribution to SDGs
Goal 7 (Affordable and clean energy)
Goal 9 (Industry, innovation and infrastructure)
Goal 13 (Climate action)

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