H2 View understands that state-backed Suryam International will supply the Chennai plant with green ammonia at ₹50/kg ($0.57/kg), or roughly $575 per tonne.

The final bid sits joint lowest overall, tied with Acme’s record ₹49.75/kg ($0/57.kg) bid. The volume is also the lowest-capacity award of all the auctions.

Among the three results before Madras Fertilisers’ win, Acme Cleantech secured Indorama’s Haldia plant at ₹64.74/kg ($0.74/kg) and Paradeep Phosphates’ Goa plant at ₹62.84/kg ($0.72/kg), while Mangalore Chemicals & Fertilisers received 15,000 tonnes per annum (tpa) at ₹57.65/kg ($0.66/kg).

The auctions were conducted as part of India’s first green ammonia tender under the Sight scheme, Mode-2A, Tranche-I, where the SECI secured supply for 13 fertiliser plants across the country to help the energy transition.

With the conclusion of all 13 tenders, India has locked in supply agreements totalling around 724,000 tonnes per year of green ammonia.

“This month of August has been a defining one: across different geographies, auction after auction has brought price discoveries, covering both ends of the discovered price range,” the SECI said on LinkedIn.