Odisha Emerges as a Green Hydrogen Hub with Landmark Agreement
Key Ideas
- GRIDCO and M/s Avaada Green H2 sign a groundbreaking agreement for a Green Power Banking Facility in Odisha, supporting a Green Ammonia Plant.
- Deputy CM Kanak Vardhan Singh Deo highlights Odisha's progress in green energy, with 14 approved Green Hydrogen/Ammonia projects and substantial investments.
- Odisha's conducive policy environment, robust infrastructure, seaports, and domestic demand position it as a leading state for Green Hydrogen and Ammonia.
- The state's introduction of Green Energy Banking ensures round-the-clock supply of green power for hydrogen and ammonia developers, enhancing sustainability.
In a significant move towards advancing Odisha’s green energy goals, GRIDCO has signed an agreement with M/s Avaada Green H2 under the OERC Green Energy Open Access Regulations. This agreement offers a Green Power Banking Facility to support Avaada's upcoming Green Ammonia Plant in Gopalpur. The agreement, operational for 25 years from December 31, 2028, signifies Odisha's leadership in Green Hydrogen and Ammonia development in India. The Deputy Chief Minister highlighted the state's approval of 14 Green Hydrogen/Ammonia projects with a proposed investment of Rs. 2 Lakh Crores, aiming to create 22,000 job opportunities. Odisha's favorable ecosystem, including incentives for renewable energy projects, coupled with Green Energy Banking provisions, ensures a constant supply of green power. This milestone agreement cements Odisha's role as a hub for the green hydrogen and ammonia industry, showcasing its commitment to sustainable energy development.
Topics
India
Renewable Energy
Infrastructure
Sustainable Development
Investment Opportunities
Green Power
Industrial Growth
Policy Environment
Employment Generation
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