Avaada Group signs MoU with REC for financing energy transition projects in Odisha

The Avaada Group has signed an MoU with REC Limited to finance its energy transition projects in Odisha, with a total agreed amount of Rs 150 billion. The partnership is focused on accelerating the transition to green energy and supporting India’s aspirations to establish itself as a prominent global hub for manufacturing green hydrogen and its derivatives. With the increasing demand for sustainable energy, Odisha has initiated a range of efforts to attract investments in the energy sector, with a focus on accelerated decarbonisation.