On the sidelines of the Global Maritime India Summit 2023, Avaada Group and Gopalpur Port Limited have signed a MoU for setting up a green ammonia storage facility. The plant will be situated at the Gopalpur port. The agreement will allow the port to become a hub for the export of green ammonia.
Recently, in October 2023, Avaada Group signed a MoU with REC Limited for financing its energy transition projects in Odisha. As a part of the MoU, Avaada Group would receive the funding support of Rs 150 billion from REC Limited.
In July 2023, Avaada Group signed a MoU with REC Limited to support Avaada’s diverse energy transition ventures, with the total investment reaching Rs 200 billion.