OCTOBER 20238REC OFFERS OVER RS 40,000 CR FOR PROJECTS IN ODISHATwo green hydrogen projects and a thermal power project in Odisha would be financed, according to REC Ltd. The development of two units of a thermal power plant in Jharsuguda, Odisha, will require financing from REC of Rs 9,538 crore, according to a statement from the firm.REC and OPGC have signed an MoU for this purpose. According to REC, the partnership will have a substantial impact on the state's energy infrastructure and ability to generate power.As part of a cooperation with Acme Group, REC will contribute Rs 16,000 crore to a green hydrogen and ammonia project that is envisioned for the state of Gujarat's Gopalpur. Additionally, it signed an agreement with the Avaada Group, promising to contribute Rs 15,000 crore to a green hydrogen and ammonia facility in Gopalpur, according to REC. All MoUs are valued a combined Rs. 40,538 crore.This project demonstrates how critical clean and sustainable energy sources are to the future. Initiatives for India's energy transition have our full support. By 2030, we want to have a renewable energy portfolio worth Rs 3 lakh crore, up from Rs 30,000 crore today. Vivek Kumar Dewangan, REC CMD, spoke. The Ministry of Power's non-banking finance company is called REC. KALPATARU PROJECTS INTERNATIONAL RAISES RS 2,217 CR NEW ORDERS IN INDIA, ABROADKalpataru Projects International Limited (KPIL), it has received fresh orders totaling Rs. 2,217 crore both domestically and abroad. The company's B&F (building and factories section) has obtained fresh orders of Rs 224 crore in the domestic market, according to a regulatory filing from KPIL. This contrasts with the T&D (transmission and distribution) business, which has secured contracts worth Rs 1,993 crore in India and overseas markets.Manish Mohnot, MD & CEO, KPIL, said, we are delighted with the significant order wins, resulting in our total order inflows reaching Rs 10,616 crore in the current financial year. With notable order inflows of approximately Rs 5,400 crores up to this point in FY24 for our main T&D sector, there is good hope for future growth. According to him, the company also holds a further L1 (lowest bidder) position worth roughly Rs 4,000 crore, which is mostly divided across the T&D, B&F, and water business.KPIL is one of the biggest specialised EPC (engineering, procurement and construction) companies working on flyovers, metro rail, airports, buildings & industries, water supply & irrigation, railroads, oil & gas pipelines, and other types of urban transportation. The company now works on projects in more than 30 nations and has a global presence in more than 70 nations. TOP STORIES
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