Avaada Group’s green ammonia division has announced the signing of a Memorandum of Understanding with REC Ltd to finance its green ammonia project in Odisha. REC has committed to investing INR 15,000 crore (around $1.8 billion) into the project.
Avaada Group is an integrated energy company with interests spanning the manufacturing of solar panels, renewable power generation and green hydrogen, methanol and ammonia production ventures. Avaada Energy, an arm of Avaada Group, targets 11 GW of projects by 2026. Avaada has received a $1.3 billion investment from Brookfield’s Energy Transition Fund and $300 million from GPSC, PTT Group of Thailand.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.