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NLC India Renewables (NIRL), a subsidiary of state-run NLC India, has entered into a joint venture (JV) agreement with Assam Power Distribution Company Limited (APDCL) to develop 1 gigawatt (GW) of green energy projects in Assam.
The agreement outlines the creation of a Joint Venture Company (JVC), where NIRL will hold a 51% stake and APDCL will own 49%. The JVC will focus on renewable energy projects aimed at meeting the regions increasing energy demands.
NIRL will leverage its renewable energy development expertise, while APDCL will assist with land acquisition, regulatory approvals, and power evacuation infrastructure. Power Purchase Agreements (PPAs) for the projects will be signed with Assams electricity distribution companies for a 25-year period.
This JV is designed to support Assam’s energy needs with sustainable, affordable, and reliable power while bolstering the state’s energy security. It aligns with India’s broader renewable energy goals, aiming to combat climate change and advance sustainable development.
NIRL Chairman, Prasanna Kumar Motupalli, emphasized the initiative’s significance, stating, "This JV signifies our collective resolve to empower Assam with clean and sustainable energy solutions. This initiative will not only ensure energy security for Assam but also catalyze socio-economic development by creating green jobs and enhancing the State’s sustainability index."
The joint venture will incorporate advanced technologies to optimize efficiency and reduce the carbon footprint, contributing to a greener, more sustainable future for Assam. |
