The state-owned REC Limited has signed three MoUs totalling Rs 40,358 crores to support and finance various projects in Odisha.
They entered into an MoU with Odisha Power Generation Corporation (OPGC) to finance Rs 9,538 crore to develop two units (660×2 Mw) of thermal power project in Jharsuguda, Odisha. The collaboration will contribute significantly to the state’s power generation capacity and energy infrastructure.
REC will provide funding of Rs 16,000 crore for a green hydrogen and ammonia facility proposed at Gopalpur in the state. This will be in partnership with the Acme group.
REC said it has also entered into an MoU with Avaada Group, pledging Rs 15,000 crore for a green hydrogen and ammonia facility at Gopalpur.
The signing ceremony took place in the presence of Mr Vivek Kumar Dewangan, CMD of REC Limited, Mr Nikunj B Dhall, ACS Energy of the Government of Odisha, Mr Hemant Kumar, Principal Secretary Industries, and other senior officials from both REC and the Government of Odisha. Senior representatives from the Acme and Avaada Groups, critical partners in these ventures, were also present.
The total worth of all MoUs is Rs 40,538 crore and will play a pivotal role in enhancing energy infrastructure, promoting sustainable practices, and generating economic growth in Odisha.