Renewable energy company Avaada Group will set up a green hydrogen and ammonia manufacturing unit at Tata Steel Special Economic Zone Limited (TSSEZL).
Published: 15th October 2023 09:15 AM | Last Updated: 15th October 2023 09:15 AM | A+A A-
Tata SteelA signboard at a Tata Steel plant (File photo | AFP)By Express News Service
BHUBANESWAR: In a quantum leap in Odisha’s energy security, Navratna company Rural Electrification Corporation (REC) on Saturday collaborated with three prominent power producers – Odisha Power Grid Corporation (OPGC), Avaada Energy and ACME Solar to finance energy projects in the state.
As per the separate agreements, REC Ltd will finance the expansion of OPGC’s thermal power project at Jharsuguda with an investment of Rs 9,538 crore. OPGC operates state-of-the-art thermal power plants at Banharpalli. It has a total generation capacity of 1,740 MW. Marking Odisha’s firm commitment to a sustainable future, REC’s partnership with Avaada Energy will facilitatefinancing for the latter’s green hydrogen and green ammonia project at Gopalpur. It will have an impressive allocation of Rs 15,000 crore.
Renewable energy company Avaada Group will set up a green hydrogen and ammonia manufacturing unit at Tata Steel Special Economic Zone Limited (TSSEZL). Avaada will acquire 120 acre of land to set up the 0.5 MTPA green hydrogen/ammonia production facility. Similarly, as part of the collaboration with ACME Solar to further augment the state’s green energy vision, REC will provide financing support to its green hydrogen and green ammonia project in Gopalpur with a commitment of Rs 16,000 crore. The proposed facility is expected to produce 1.3 MTPA of green ammonia and be powered by renewable energy sources.