Two green hydrogen projects and a thermal power project in Odisha would be financed, according to REC Ltd. The development of two units of a thermal power plant in Jharsuguda, Odisha, will require financing from REC of Rs 9,538 crore, according to a statement from the firm.
REC and OPGC have signed an MoU for this purpose. According to REC, the partnership will have a substantial impact on the state's energy infrastructure and ability to generate power.
As part of a cooperation with Acme Group, REC will contribute Rs 16,000 crore to a green hydrogen and ammonia project that is envisioned for the state of Gujarat's Gopalpur. Additionally, it signed an agreement with the Avaada Group, promising to contribute Rs 15,000 crore to a green hydrogen and ammonia facility in Gopalpur, according to REC. All MoUs are valued a combined Rs. 40,538 crore.
This project demonstrates how critical clean and sustainable energy sources are to the future. Initiatives for India's energy transition have our full support. By 2030, we want to have a renewable energy portfolio worth Rs 3 lakh crore, up from Rs 30,000 crore today. Vivek Kumar Dewangan, REC CMD, spoke. The Ministry of Power's non-banking finance company is called REC.