REC signs MoU for two renewable hydrogen and conventional power projects worth Rs 403 billion in Odisha

REC Limited has signed three memorandums of understanding (MoUs) totaling Rs 403.58 billion to support and finance various projects in Odisha over the coming years.

The first MoU involves a partnership with Odisha Power Generation Corporation Limited to finance the development of Unit 5 and 6, a 660 MW x 2 thermal power project in Jharsuguda, Odisha, with an investment of Rs 95.38 billion. The second MoU is a collaboration with the Acme Group Limited, providing Rs 160 billion in funding for the green hydrogen and ammonia facility in Gopalpur, Odisha. In the third MoU, REC has entered into an agreement with the Avaada Group Limited, pledging Rs 150 billion for an upcoming green hydrogen and ammonia facility in Gopalpur, Odisha, emphasising green energy initiatives in the state.