New Delhi: State-run REC Ltd announced it has signed three Memorandums of Understanding (MoUs) totalling INR 40,358 crore to finance various projects in Odisha, including two green hydrogen initiatives and a conventional power scheme.
The MoUs were signed in the presence of top officials including REC Limited CMD Vivek Kumar Dewangan, and Nikunj B Dhall, ACS Energy of the Government of Odisha. Senior representatives from the Acme and Avaada Groups, collaborators on these projects, were also in attendance.
According to the details provided, REC and Odisha Power Generation Corporation (OPGC) have come together to finance a INR 9,538 crore development of a 660 MW x 2 thermal power project in Jharsuguda.
In addition, REC has partnered with the Acme Group for a INR 16,000 crore Green Hydrogen and Ammonia facility in Gopalpur. Further, a similar agreement worth INR 15,000 crore has been entered with the Avaada Group for another Green Hydrogen and Ammonia facility in the same location.
In a company statement, it was highlighted that “these MoUs collectively represent a commitment of INR 40,358 crore in the coming years for the state of Odisha.” The collaborative ventures, with OPGC, Acme Group, and Avaada Group, seek to enhance the energy infrastructure and spur economic growth in the state.
