REC commits $280 mn to Hygenco’s green ammonia project

Green hydrogen producer Hygenco said that it has entered an agreement with REC Limited for financing Hygenco’s Green Ammonia Project in Gopalpur, Odisha. The state-backed power sector lender will provide upto $280 million for the project. Hygenco develops and deploys commercial green hydrogen and ammonia production systems. Its applications are used in large-scale process industries, terrestrial and marine

REC, National Investment, Infrastructure Fund to collaborate on funding for RE projects

REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has signed a Memorandum of Understanding (MoU) with the National Investment and Infrastructure Fund Limited (NIIFL) to collaborate on a suite of funding solutions for Renewable Energy Projects as well as large-scale infrastructure projects in India. Speaking about

Avaada, REC ink MoU for green hydrogen hub

Avaada Group has inked a memorandum of understanding (MoU) with state-run REC for setting up a green hydrogen and green ammonia hub in Gopalpur, Odisha. The non-banking financial company (NBFC) in the power sector has entered into an agreement with the Avaada Group, pledging Rs 15,000 crore for an upcoming green hydrogen and ammonia facility

REC to finance green H2 projects with $6bn

Financier of energy projects in India REC has signed preliminary agreements worth 500bn Indian rupees ($6bn) to develop green hydrogen and ammonia projects, REC’s chairman and managing director Vivek Kumar Dewangan said. REC made its first major publicly-announced contribution to a green hydrogen and ammonia project in July, with a Rs40bn loan to Indian renewables