Hygenco and REC sign $280 million MoU for green ammonia project in Odisha
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 Mitsubishi Power for green hydrogen/ammonia-fired gas turbine combined cycle power plants and with Tata Steel Special Economic Zone Limited (TSSEZL) for a green hydrogen and ammonia project producing 1 million tonnes annually in Gopalpur. Additionally, Hygenco and Ameropa agreed to a potential supply deal for green ammonia from the Gopalpur port project.