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 Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

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Concord Associate Bags Rs 2.79 Bn Kavach Order

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