REC inks 3 MoUs of over Rs 40K cr to support and finance various power projects in Odisha

Gurugram: REC Ltd signed three MoUs totalling Rs 40,358 crore to support and finance various projects in the vibrant state of Odisha. The signing ceremony took place in the presence of Vivek Kumar Dewangan, CMD of REC Ltd, Nikunj B Dhall, ACS Energy of the Govt of Odisha, Hemant Kumar, Principal Secretary Industries, and other senior officials from both REC and the Govt of Odisha.

The MoUs signed on Sunday exemplify REC’s commitment to fostering development and sustainability in the region. The key highlights of the agreements are as follows:

OPGC Partnership: REC and Odisha Power Generation Corporation (OPGC) have joined forces to finance Rs 9,358 crore for the development of Unit 5&6, a 660 MW x 2 thermal power project in Jharsuguda, Odisha. This collaboration will contribute significantly to the state’s power generation capacity and energy infrastructure.

Acme Group Collaboration: A groundbreaking partnership between REC and the Acme Group will provide funding of Rs 16,000 crore for an ambitious Green Hydrogen and Ammonia facility in Gopalpur, Odisha. This initiative underscores the importance of sustainable and clean energy solutions for the future.

Avaada Group Alliance: In another stride towards sustainability, REC has entered into an agreement with the Avaada Group, pledging Rs 15,000 crore for an upcoming Green Hydrogen and Ammonia facility in Gopalpur, Odisha.

These MoUs collectively represent a financial commitment of Rs 40,358 crore over the coming years in the state of Odisha.