Greenko in discussions with REC for Rs 24 billion funding

27 Jun 2024 CW Team

Greenko Group is reportedly in discussions with REC, a state-run power financier, to secure funding for its green hydrogen and green ammonia project with a capacity of 600 MW, according to sources familiar with the matter. It is understood that Greenko aims to raise between Rs 22-24 billion from REC. One source indicated that once financial closure is achieved, the company intends to finalise firm and definitive agreements with the lender.

The project has already secured an offtake agreement with Yara of Norway and has received pre-certification for ammonia production. The offtake agreement, which involves a commitment to purchase or sell goods ahead of production, is expected to facilitate project financing. In May of this year, Greenko signed a term sheet with Yara Clean Ammonia, a trader and distributor of ammonia, for the supply of renewable ammonia from Phase 1 of AM Green's ammonia production facility in Kakinada, Andhra Pradesh.

Infrastructure Transport

15 May 2025

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India鈥檚 first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India鈥檚 infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Infrastructure Transport

15 May 2025

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central鈥揋andhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India鈥檚 busiest business corridors. This upgrade, effective from 11 May, raised the train鈥檚 seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai鈥揂hmedabad鈥揋andhinagar route, which regularly operates at over 150 percent seat occupancy...

Infrastructure Urban

15 May 2025

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi鈥檚 ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river鈥檚 health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..