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. PLI EC APPROVES RS 1,000 CR DISBURSEMENT TO BENEFICIARIES OF ELECTRONICS SECTORThe PLI scheme's Empowered Committee has approved a distribution of Rs 1,000 crore to electronics sector beneficiaries. Out of claims totaling Rs 3,400 crore received under the scheme, which aims to increase local manufacturing, foster employment growth, and encourage exports, the government disbursed Rs 2,900 crore through March 2023.Disbursements of Rs 1,000 crore under the PLI programme for the Electronics Sector were approved at the most recent committee meeting. It would take a few more days before the recipient companies would really receive their funds, the official said. The first payment for this fiscal year would be this one. The plan, which will invest Rs 1.97 lakh crore, was announced in 2021 and will cover 14 industries, including large-scale electronic manufacturing, white goods, textiles, medical device manufacturing, automobile manufacturing, specialty steel, food product manufacturing, high-efficiency solar PV modules, advanced chemistry cell batteries, drone manufacturing, and pharmaceuticals.In industries like electronics, pharmaceuticals, and medical gadgets, the system is succeeding. The PLI scheme had approved up to 32 beneficiaries for large-scale electronics manufacturing, including the production of mobile phones and specific electronic components. The relevant ministries or departments that are carrying out the scheme give their proposal for the payment of rewards. TOP STORIES
< Page 7 | Page 9 >