The Impressive TimesNew Delhi, January11, 2025: In a bid to advance sustainable energy solutions, NLC India Renewables (NIRL), a wholly-owned subsidiary of NLC India, has entered into a joint venture (JV) agreement with Assam Power Distribution Company Ltd (APDCL). The agreement was signed on Saturday, aiming to bolster renewable energy initiatives in Assam.
As per the agreement, the two entities will establish a Joint Venture Company (JVC) to develop 1,000 MW of green energy projects in the state. NIRL will hold a 51% equity stake in the venture, while APDCL will hold the remaining 49%.
“NIRL will leverage its expertise in renewable energy project development, while APDCL will facilitate key activities such as land acquisition, obtaining regulatory approvals, and creating the necessary power evacuation infrastructure,” the statement said.
Additionally, Power Purchase Agreements (PPAs) will be signed with Assam’s power distribution companies to ensure the sale of 100% of the generated power for a tenure of 25 years.
As the renewable energy arm of NLC India, NIRL is dedicated to streamlining its parent organization’s renewable energy projects and consolidating its renewable energy assets. This JV represents a significant step in the company’s vision to drive India’s energy transition while ensuring environmental sustainability.
Commenting on the development, Prasanna Kumar Motupalli, Chairman of NIRL, stated, “This partnership is a testament to our shared commitment to delivering clean and sustainable energy solutions for Assam. By pooling the strengths of NIRL and APDCL, we aim to create a strong infrastructure for renewable energy generation and distribution. This initiative will not only secure energy availability for Assam but also foster socio-economic progress by generating green jobs and enhancing the state’s sustainability metrics.”
The initiative is expected to make a significant contribution to Assam’s energy security while promoting economic development and environmental stewardship. With the combined efforts of NIRL and APDCL, the state is set to witness a transformative shift towards renewable energy, in line with India’s larger goals of sustainability and energy independence.
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