Hygenco Green Energies and REC limited have inked a Memorandum of Understanding (MoU) at the 4th Global Renewable energy Investors meet in Gandhinagar, Gujarat. This MoU is aimed at financing Hygenco’s green ammonia project established in Gopalpur, Odisha. As per the agreement, REC will invest $280 million in the project. On the other hand, Hygenco has a plan to intensify investments in India with $2.5 billion worth investments planned in green hydrogen and green ammonia projects in the upcoming years.
In August 2024, Hygenco and Mitsubishi Power signed a MoU for producing green hydrogen/ammonia-fired gas turbine combined cycle power plants. In June 2024, Hygenco Green Energies and Ameropa signed a term sheet for the potential supply of green ammonia from its forthcoming green ammonia project located in Gopalpur port, Odisha.
In May 2024, Tata Steel Special Economic Zone Limited (TSSEZL) signed MoU with Hygenco for the development of a green hydrogen and green ammonia project, with an estimated annual output of 1 million tonnes, to be located at TSSEZL’s Gopalpur Industrial Park located in the Ganjam district of Odisha.
