Interview Times 
A Memorandum of Understanding (MoU) has been signed by REC Ltd. and AVAADA Group (www.avaada.com), a prominent commercial company with a major presence in India’s energy transition arena. This agreement was signed by Avaada Group in order to fund its energy-related projects in Odisha, India. The MoU was signed in Bhubaneshwar, India, with a total agreed-upon sum of INR 15,000 cr./INR 150 Bn, in the presence of Mr. Hemant Kumar Sharma, Principal Secretary, Industries Department, Govt. of Odisha.
The alliance aims to hasten the shift to renewable energy sources and assist India in realising its dream of being a leading worldwide centre for the production of Green Hydrogen and its byproducts.
Odisha has started a number of initiatives to draw investments into the energy industry with an emphasis on faster decarbonization in response to the growing demand for sustainable energy.
“I am delighted to announce that we have signed the MoU with REC Ltd., which will be our pivotal step in helping strengthen India’s commitment to achieving Net Zero by 2070,” remarked Vineet Mittal, Chairman of Avaada Group, in response to this cooperation. We are grateful to the Odisha government for making it easy to conduct business in green molecules and renewable energy, as well as for its strong measures that have made the state an excellent place for sustainable growth.
Our dedication to this business is based on our conviction that adopting green energy is not only vital for our future but also a potent force for good in the globe.
Through this agreement, we will be able to maintain our financing of renewable energy projects in Odisha, which will strengthen our renewable energy footprint both domestically and internationally and contribute to the sustainable development of the state.
