NLC Forms JV To Set Up 1000 MW Solar Power Projects In Assam

(MENAFN- IANS) Guwahati, Jan 11 (IANS) Government-owned NLC India Ltd on Saturday announced that its renewables arm has entered into a joint venture agreement with Assam Power Distribution Company Limited (APDCL) for developing 1000 MW solar power projects in the state.

According to the agreement, NLC India Renewables Limited (NIRL) will have an equity shareholding of 51 per cent in the joint venture while APDCL will hold a 49 per cent stake.

NIRL will bring its expertise in renewable energy project development. APDCL will facilitate land acquisition, regulatory approvals, and power evacuation infrastructure. Power Purchase Agreements (PPAs) will be signed with Assam DISCOMs for the sale of 100 per cent of the generated power for 25 years, according to the NLC statement.

"This initiative will not only ensure energy security for Assam but also catalyse socio-economic development by creating green jobs and enhancing the state's sustainability index," NIRL Chairman Prasanna Kumar Motupalli said.

The joint venture aims to address Assam's growing energy demands by developing renewable energy projects, ensuring affordable and reliable power supply, and contributing to the State's long-term energy security. The partnership aligns with the Government of India's focus on increasing renewable energy penetration in the country's energy mix to combat climate change and support sustainable development, the statement added.

The Joint Venture Company is set to play a pivotal role in addressing the energy needs of Assam in an environmentally responsible manner and also to meet the Renewable Purchase Obligation. It will focus on the deployment of innovative technologies to maximise efficiency and minimise the carbon footprint, thereby paving the way for a greener future.

This JVA represents a significant collaboration to promote green energy and sustainable development in Assam, addressing the State's energy needs while aligning with India's renewable energy targets.

NLC India Renewables Limited (NIRL), as the renewable energy arm of NLC India Limited, is focused on consolidating the renewable assets of its parent organisation and spearheading future renewable energy projects. Established to enhance operational efficiency and streamline renewable energy investments, NIRL plays a pivotal role in advancing NLC India's vision of contributing to the nation's energy transition while maintaining environmental sustainability, the statement said.

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