The Business Bytes
TBB BUREAU
BHUBANESWAR, SEPT 7, 2023
Tata Steel Special Economic Zone Limited (TSSEZL) and Avaada GreenH2 Private Limited, Green Hydrogen arm of integrated energy enterprise of Avaada Group, on Thursday signed a Memorandum of Understanding (MoU) to establish a green hydrogen and green ammonia project at Gopalpur Industrial Park in Ganjam district.
Under the definitive agreement, Avaada Group will acquire 120 acres of land in TSSEZL’s Gopalpur Industrial Park (GIP), to set up a 0.5 MTPA green hydrogen/ammonia production facility.
The MoU was signed between Manikanta Naik, Managing Director, TSSEZL, and Prashant Choubey, President, Avaada Group, in the presence of Odisha State Industries Department Principal Secretary Hemant Sharma, and IDCO & IPICOL Managing Director Bhupendra Singh Poonia.
Speaking on the occasion, Hemant Sharma said, “Odisha’s roadmap for the green fuels sector is both comprehensive and ambitious. The addition of Avaada Group to our partnership ecosystem is an endorsement of our strategy. We welcome Avaada to the Odisha family and look forward to achieving new milestones together.”
This green ammonia will be produced from green hydrogen, and the production facilities will be powered by renewable energy.
“At IPICOL, we are committed to facilitating transformative ventures that propel us towards a sustainable future. This MoU between Tata Steel SEZ and Avaada Group underscores our unwavering dedication to usher in investments that align with our sustainable development goals. As we look ahead, collaborations like these will light our path to a more prosperous and sustainable future”,” said Bhupendra Singh Poonia.
The green hydrogen and ammonia produced at this facility will be exported to markets around the world from the existing Gopalpur Port facility. The Utility Corridor between Gopalpur Industrial Park and Gopalpur Port will provide a dedicated corridor for smooth logistics and pipeline connectivity.
“We are happy to sign the MoU with Avaada Group for their Green Hydrogen Project. This is the second investment we have attracted in the green hydrogen/ammonia manufacturing sector. Our industrial park continues to be a preferred destination for investors, given its conducive offerings for setting up a unit. We take this opportunity to once again thank the Government of Odisha for its progressive policies that are attracting investments to the state of Odisha,” said Manikanta Naik.
“We are eagerly looking forward to having more investors at the Industrial Park, which will add to the industrial development of the area”, he added.
Avaada Group Founder & Chairman Vineet Mittal said, “We are delighted to announce the signing of a MoU today with Tata Steel SEZ, marking a significant milestone in our journey towards realising our green ammonia project within the Gopalpur Industrial Park. Green hydrogen and ammonia production is a crucial cornerstone in the global shift towards sustainable energy. Avaada is dedicated to contributing to India’s aspiration to become a leading global green hydrogen manufacturing hub.”
“Our gratitude extends to the Odisha government for their unwavering support, as it empowers us to take bold strides towards a greener and more sustainable future. We pledge to facilitate the transition towards a low-carbon economy, leaving behind a lasting legacy of value for our stakeholders and society,” he added.
TSSEZL had signed one MoU with ACME Clean Energy Pvt Ltd on August 25, 2023, for establishment of a Rs 27,000-crore green hydrogen and ammonia project at the Gopalpur Industrial Park. ACME will acquire 343 acres of land in TSSEZL’s Gopalpur Industrial Park.
