The Business Bytes
TBB BUREAU
BHUBANESWAR, JANUARY 5, 2021
The Industrial Promotion & Investment Corporation of Odisha Limited (IPICOL) and GAIL (India) Limited on Wednesday signed a Memorandum of Understanding (MoU) for cooperation in the areas of green hydrogen, green ammonia and renewable energy (solar/wind) for the production of eco-friendly fuels in Odisha.
Scope of the MoU inter-alia includes preparing a feasibility study for setting up the proposed plants. It also emphasizes promoting the production of eco-friendly fuels in Odisha.
Green hydrogen would help the industries cut aggregate emissions of GreenHouse Gases (GHGs), thus contributing to the overall objectives of the Union Government’s INDC targets. Odisha, being a power surplus state, is looking to further strengthen its position in power and these upcoming plants will help Odisha-based heavy industries to supplement their growing power requirements.
Attending the MoU signing ceremony at Bhubaneswar, Asit Tripathy, Principal Secretary to the Chief Minister of Odisha said: “The entire world is trying to reduce the carbon emission, but it needs a lot of intent, support and energy to execute the massive change. And we are very eager to help the company in terms of suitable land and solid support.”
State Industries Department Principal Secretary Hemant Sharma lauded the interest of GAIL to set up a green hydrogen plant. “Currently, Odisha has a very large pre-existing market for hydrogen and with this joint effort to produce green hydrogen in bulk, the cost of green hydrogen will get reduced for industrial consumption,” Sharma said.
Speaking on the occasion, GAIL (India) Director (Business Development) MV Iyer said, “We are focused on the development of natural gas infrastructure and clean energy projects in Odisha and the rest of the country. In Odisha, GAIL is laying natural gas pipeline, setting up a CGD project and also setting up a coal gasification plant in JV mode.”
The event was attended and appreciated by the leading steel, aluminium and chemical manufacturers along with the leading industry bodies such as FICCI, ICC, CII and UCCI.
