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Hygenco invites bids for 1.1 GW RE to power green ammonia project

India, News

Hygenco Green Energies Pvt Ltd has announced bids for over 1.1 GW (1125 MW) of renewable energy to support its upcoming Green Ammonia Project, marking the largest renewable power procurement tender for a green ammonia initiative in India. The company plans to source 625 MW from solar PV projects and 500 MW from wind power. This tender is designed to minimize risk for developers and ensure a transparent process, aiming to attract wide participation from…

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Hygenco and REC sign $280 million MoU for green ammonia project in Odisha

India, News

Hygenco Green Energies and REC Limited have signed a Memorandum of Understanding (MoU) at the 4th Global Renewable Energy Investors Meet in Gandhinagar, Gujarat, to finance Hygenco’s green ammonia project in Gopalpur, Odisha. Under the agreement, REC will invest $280 million in the project. Hygenco plans to expand its investments in India, with $2.5 billion earmarked for green hydrogen and green ammonia projects in the coming years. In recent developments, Hygenco has signed MoUs with…

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Hygenco, Mitsubishi Power partner to advance green hydrogen, ammonia technologies

India, News

Hygenco Green Energies and Mitsubishi Power have signed an MoU to develop and deploy green hydrogen and ammonia-fired gas turbine combined cycle (GTCC) power plants. Hygenco will supply green fuel, while Mitsubishi Power will handle the development and management of production facilities, aiming to scale up green hydrogen for commercial viability. Mitsubishi Power is also working on converting existing GTCC plants from natural gas to hydrogen and ammonia, driving the transition to cleaner energy. This…

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REC raises $500 million through green bonds for renewable energy projects

India, News

REC Limited has raised $500 million through green dollar bonds as part of its $10 billion global medium-term programme. This 5-year bond has a coupon rate of 4.75% per annum, with semi-annual payments, and is set to mature on September 27, 2029. It marks the first US dollar bond issuance by an Indian public sector enterprise in 2024. The funds raised under REC’s Green Finance Framework will be allocated to eligible green projects in line…

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Uttar Pradesh secures Rs 1.15 trillion in green hydrogen investments

India, News

Uttar Pradesh has attracted private investment proposals totaling nearly Rs 1.15 trillion in the green hydrogen sector, as part of its efforts to bolster the state’s clean energy roadmap. Seventeen companies have submitted proposals, which are expected to create 20,000 jobs. Among the key investors, UK-based Trafalgar Square Capital plans to set up a 10,000-tonnes-per-annum green hydrogen production facility near Lucknow. Textile giant Welspun Group is investing Rs 400 billion in a green hydrogen or…