Odisha achieves energy milestone: REC collaborates with major stakeholders to fund groundbreaking energy ventures

Bhubaneswar: In a significant stride toward bolstering Odisha’s positioning as a nucleus for green energy and energy security, the Rural Electrification Corporation (REC) inked three pivotal Memoranda of Understanding (MoUs) with prominent energy giants: Odisha Power Grid Corporation (OPGC), Avaada Energy, and ACME Solar.

The series of MoUs is a clear indication of Odisha’s relentless drive to elevate its power infrastructure and expand its green energy footprint:

1. OPGC & REC MoU: This collaboration is set to finance the expansion of the Thermal Power Project at Jharsuguda with an investment of INR 9,538 crores.
2. Avaada Energy & REC MoU: Marking Odisha’s firm commitment to a sustainable future, this MoU facilitates financing for the Green Hydrogen and Green Ammonia Project in Gopalpur, with an impressive allocation of INR 15,000 crores.
3. ACME Solar & REC MoU: This partnership further augments Odisha’s green energy vision, ensuring financing for ACME Solar’s Green Hydrogen and Green Ammonia Project in Gopalpur, with a commitment of INR 16,000 crores.

Odisha’s steadfast reforms in the power and energy sector have positioned the state at the forefront of the Bay of Bengal region’s industrial renaissance. Mr. Hemant Sharma, Principal Secretary, Industries Department, Government of Odisha, emphasized, “Odisha’s strategic location, coupled with our pioneering efforts in green energy, is attracting global investors, setting the state as the Bay of Bengal’s industrial epicenter.”

The state’s focus on green hydrogen and green ammonia not only amplifies its commitment to sustainability but also underscores its vision of being a futuristic economy. With global industries pivoting towards cleaner, sustainable energy sources, Odisha is strategically positioning itself to be a linchpin in this green revolution.

Mr. Nikunja Dhal, Additional Chief Secretary, Energy Department, noted, “Our collaborative spirit and forward-thinking policies are not just attracting investments but are shaping Odisha as a model state for green and sustainable development in India.”

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The presence of senior dignitaries, including Mr. Vivek Kumar Dewangan, CMD, REC, during the MoU signing bears testimony to the significance of these partnerships and the collective vision for Odisha’s energy-rich future.

Odisha’s journey in energy security and its unwavering focus on green energy solutions is setting the blueprint for other states to emulate, proving once again that when vision meets action, transformative change is possible.