Gurugram: REC Limited marked a significant milestone by signing three MoUs totalling Rs 40,358 crore to support and finance various projects in Odisha, said an official statement released by REC on Monday. The signing ceremony took place in the presence of Vivek Kumar Dewangan, CMD of REC Limited, Nikunj B Dhall, ACS (Energy) with the government of Odisha, Hemant Kumar, Principal Secretary (Industries), and other senior officials from both REC and the government of Odisha. Senior representatives from the Acme and Avaada Groups, key partners in these ventures, also graced the occasion.
"The MoUs signed exemplify REC's commitment to fostering development and sustainability in the region," said the statement.
REC and Odisha Power Generation Corporation (OPGC) have joined forces to finance Rs 9,538 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.
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. This endeavour is poised to make a substantial contribution to the green energy landscape in the state.
"These MoUs collectively represent a financial commitment of Rs 40,358 crore over the coming years in the state of Odisha. REC's dedication to the region's progress, combined with its partnerships with OPGC, Acme Group, and Avaada Group, will play a pivotal role in enhancing energy infrastructure, promoting sustainable practices, and generating economic growth in Odisha," said the statement.