REC commits ₹40,358 crore for thermal power, green hydrogen projects in Odisha

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₹40,358 crore in the state. These include financing commitments with Odisha Power Generation Corp.

(OPGC) for developing a thermal power project, and funding green hydrogen and ammonia facilities of Acme Group and Avaada Group Alliance in the state. REC has signed an MoU with OPGC to finance ₹9,538 crore for development of two units of a thermal power project in Jharsuguda, Odisha, the company said in a statement.

Separately, it has entered into a partnership with the Acme Group to provide funding of ₹16,000 crore for an ambitious Green Hydrogen and Ammonia facility in Gopalpur, Odisha, which underscores the importance of sustainable and clean energy solutions for the future, the company added. REC has also entered into an agreement with the Avaada Group, pledging ₹15,000 crore for an upcoming Green Hydrogen and Ammonia facility in Gopalpur.

"REC's dedication to the region's progress, combined with its partnerships with OPGC, Acme Group, and Avaada Group, will play a pivotal role in enhancing energy infrastructure, promoting sustainable practices, and generating economic growth in Odisha," REC said in a statement. The financial commitments made by REC will be realised over the coming years, it added."Exciting news! Mint is now on WhatsApp Channels