Industrial Promotion & Investment Corporation of Odisha (IPICOL) and Gail (India) Ltd have signed an MoU aiming at cooperation in the area of green projects in Odisha.
A release by IPICOL said that the two entities, in the MoU signed on January 5, 2022, agreed to cooperate in the areas of green hydrogen, green ammonia and renewable energy projects (solar and win), for the production of eco-friendly fuels in Odisha.
The MoU, among other things, incorporates preparing a feasibility study for setting up the proposed plants. The agreement 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 Government of India’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, the release said.
Among other mandates, IPICOL, as the investment promotion agency of Odisha, undertakes all activities to promote Odisha as an investment destination of choice.
Speaking on the occasion, Asit Tripathy, Principal Secretary to CM 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.”
Principal Secretary to Government of Odisha, Industries department Hemant Sharma praised the active interest of Gail (India) to set up a green hydrogen plant. He added that 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.
