New Delhi, Oct 14 (PTI) AVAADA Group on Saturday said it has inked an initial pact with state-owned REC Ltd for the financing of energy transition projects in Odisha.

The partnership is focused on accelerating the transition to green energy and supporting India's aspirations to establish itself as a prominent global hub for manufacturing Green Hydrogen and its derivatives, the company said in a statement.

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With the increasing demand for sustainable energy, Odisha has initiated a range of efforts to attract investments into the energy sector with a focus on accelerated decarbonisation.

Vineet Mittal, Chairman of Avaada Group, said, “This partnership will enable us to continue financing renewable energy projects in Odisha."

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)