In a significant advancement in Odisha’s energy security, the Navratna company Rural Electrification Corporation (REC) has entered into partnerships with three prominent power producers – Odisha Power Grid Corporation (OPGC), Avaada Energy, and ACME Solar, to support energy projects in the state.
Under separate agreements, REC will provide financing for the expansion of OPGC’s thermal power project in Jharsuguda with an investment of Rs 9,538 crore. OPGC operates state-of-the-art thermal power plants in Banharpalli, boasting a total generation capacity of 1,740 MW. Demonstrating Odisha’s strong commitment to a sustainable future, REC’s collaboration with Avaada Energy will facilitate funding for their green hydrogen and green ammonia project in Gopalpur, with a substantial allocation of Rs 15,000 crore.
Renewable energy company Avaada Group is set to establish a green hydrogen and ammonia manufacturing unit within Tata Steel Special Economic Zone Limited (TSSEZL). Avaada will acquire 120 acres of land to build a 0.5 MTPA green hydrogen/ammonia production facility. Similarly, as part of the partnership with ACME Solar to further bolster the state’s green energy initiatives, REC will provide financial support for their green hydrogen and green ammonia project in Gopalpur, with a commitment of Rs 16,000 crore. This proposed facility is expected to produce 1.3 MTPA of green ammonia and be powered by renewable energy sources.
Hemant Sharma, the Principal Secretary of the Industries department, highlighted that Odisha’s continuous reforms in the power and energy sector have positioned the state as a leader in the Bay of Bengal’s industrial hub. He noted that the series of MoUs demonstrates the state’s unwavering dedication to enhancing its power infrastructure and expanding its footprint in green energy. The focus on green hydrogen and green ammonia not only reinforces its commitment to sustainability but also underscores its vision of becoming a forward-looking economy.