Hygenco Green Energies Pvt Ltd, a leading provider of low-cost green hydrogen solutions, has signed a Memorandum of Understanding (MOU) with REC Limited for financing its Green Ammonia Project in Gopalpur, Odisha. The agreement, formalized during the 4th Global Re-Invest event in Gandhinagar, Gujarat, marks a significant step towards reducing carbon emissions in India. REC Limited will contribute up to $280 million towards the project, complementing Hygenco's planned investment of approximately US$2.5 billion in green hydrogen and green ammonia initiatives across the country. Amit Bansal, the Co-Founder and CEO of Hygenco, expressed the company's dedication to energy security and alignment with the Indian government's Aatmanirbhar Bharat vision. Hygenco's successful track record includes inaugurating India's first commercial green hydrogen plant in Hisar, Haryana, earlier this year, along with pioneering agreements for green hydrogen offtake with companies like Jindal Stainless and Sterlite Technologies. Through its focus on green hydrogen and green ammonia solutions, Hygenco aims to become a global leader in sustainable energy. The partnership with REC Limited not only propels Hygenco's mission but also contributes to India's climate goals by decarbonizing industries with significant carbon footprints, such as steel and chemical sectors. Headquartered in Gurgaon, India, Hygenco is set to invest $2.5 billion over the next few years to establish green hydrogen projects, further solidifying its commitment to sustainable energy practices.