Avaada Group has signed a Memorandum of Understanding (MoU) with Tata Steel Special Economic Zone Limited (TSSEZL) to establish a green hydrogen and ammonia manufacturing unit.
The facility will be located at Gopalpur Industrial Park, Odisha, #India, and expected to reduce carbon dioxide emissions by around 2 million tonnes to support the green energy transition.
The collaboration will advance India’s ambition to become a global #greenhydrogen manufacturing hub, and is a “crucial milestone” towards Avaada’s green ammonia plans, according to Chairman Vineet Mittal.
In April (2023), Avaada raised $1.07bn to fund its green hydrogen and ammonia ventures as part of its ongoing $1.3bn fundraising plan. The group has said it currently operates a project portfolio of 4GW with plans to scale up to 11GW by 2026.
In 2022, the company unveiled plans for a #greenammonia facility in Kota, India, expected to have a production capacity of one million tonnes per year, after signing an MoU with the Department of Industries and Commerce, Government of Rajasthan.
Source:Avaada group/h2-view.com
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