Hygenco Green Energies Pvt Ltd, a leading player in producing low-cost green hydrogen, has signed a significant MOU with REC Limited for financing its Green Ammonia Project in Gopalpur, Odisha. The formalization of this agreement took place during the 4th Global Re-Invest event held in Gandhinagar, Gujarat. With a commitment to reducing carbon emissions, REC will provide financial support of up to $280 million for the project, while Hygenco plans to inject about $2.5 billion into green hydrogen and green ammonia ventures across India in the coming years. The CEO of Hygenco, Amit Bansal, emphasized the company's dedication to energy security and alignment with India's Aatmanirbhar Bharat vision, aiming to pave the way for a sustainable future by reducing carbon footprints. Hygenco has already made significant strides in the green hydrogen sector, having launched India's first commercial green hydrogen plant in Hisar, Haryana. The company has secured various key partnerships, including a long-term offtake agreement with Jindal Stainless and supply agreements with companies like Sterlite Technologies. Hygenco's vision is to lead globally in green hydrogen and green ammonia solutions, contributing to the reduction of India's carbon footprint. By targeting industries that are challenging to decarbonize, such as steel and chemical, Hygenco's initiatives play a vital role in supporting India's climate objectives and fostering a sustainable future. Headquartered in Gurgaon, India, Hygenco is on a mission to develop and deploy commercially viable green hydrogen and green ammonia assets, with plans to invest $2.5 billion over three years in setting up green hydrogen projects in the country.