REC Signs MoUs With 3 Companies To Boost Green Energy In Odisha

Bhubaneswar: In a boost to the green energy sector in Odisha, the Rural Electrification Corporation (REC) has signed three Memoranda of Understanding (MoUs) with prominent energy entities including Odisha Power Grid Corporation (OPGC), Avaada Energy and ACME Solar.

The MoU with OPGC will finance the expansion of thermal power project at Jharsuguda with an investment of Rs 9,538 crore. REC is a ‘Maharatna’ company under the administrative control of the Ministry of Power.

The agreement with Avaada Energy will facilitate financing for green hydrogen and green ammonia project in Gopalpur with Rs 15,000 crore. Similarly, ACME Solar-REC collaboration will finance for ACME Solar’s green hydrogen and green ammonia project in Gopalpur with Rs 16,000 crore.

Speaking at the signing of the MoUs, Hemant Sharma, Principal Secretary, Industries department, said Odisha’s strategic location, coupled with our pioneering efforts in green energy, is attracting global investors, setting the state as the Bay of Bengal’s industrial epicenter.

“The state’s focus on green hydrogen and green ammonia not only amplifies its commitment to sustainability but also underscores its vision of being a futuristic economy. With global industries pivoting towards cleaner, sustainable energy sources, Odisha is strategically positioning itself to be a linchpin in this green revolution,” he added.

Nikunja Dhal, additional chief secretary, Energy department and Vivek Kumar Dewangan, CMD, REC were among others present.