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Ocior Energy and REC Limited Sign MoU for INR 10,000 Cr Green Hydrogen Project in Odisha

Ocior has also signed a pre-offtake agreement for 100,000 TPY of Green Ammonia with Ameropa, a Swiss trader, and has obtained all basic approvals from the Odisha government.

September 27, 2024. By News Bureau

Ocior Energy, a developer of Green Ammonia projects, has signed a Memorandum of Understanding (MoU) with REC Limited to secure funding of up to INR 10,000 crore (approximately USD 1.2 billion) for its flagship Green Hydrogen and Green Ammonia project in Odisha, India.

Ocior's Odisha project with production capacity of 200,000 TPY of Green Ammonia is in advance stages of development. KBR, Inc. has been chosen as the licensor for Ammonia technology. The project pre-FEED is completed, and the FEED contract has been awarded to Aker Solutions.

The company has also signed a pre-offtake agreement for 100,000 TPY of Green Ammonia with Ameropa, a Swiss trader, and has obtained all basic approvals from the Odisha government. With land already secured in the TATA Special Economic Zone (SEZ), adjacent to Gopalpur port, the project is strategically positioned for both export and domestic supply of Green Ammonia.

REC Limited is the pre-eminent lender in the energy space in India with a loan book of greater that INR 500000 Cr. Notably, it is the only financial institution in India to have funded Green Hydrogen and Green Ammonia initiatives.

The Government of Odisha, has played a pivotal role in accelerating the project’s progress. Also, Ministry of New and Renewable Energy (MNRE) have been key supporters, working tirelessly to advance the Green Hydrogen and Green Ammonia sector across the nation.

Tags:

Hydrogen / Fuel Cells

Green hydrogen production plant

FEED contract

MNRE

Ammonia technology