NLC India Renewables In JV With Assam DISCOM To Develop 1 GW Green Energy Projects
Date
1/13/2025 4:41:35 AM
(MENAFN- KNN India)
New Delhi, Jan 13 (KNN) NLC India Renewables (NIRL), a subsidiary of state-owned NLC India, has entered into a joint venture agreement with Assam Power Distribution Company (APDCL) to develop 1 gigawatt of green energy projects in Assam.
The partnership establishes a new joint venture company with NIRL holding a 51 percent stake and APDCL controlling the remaining 49 percent.
Under the terms of the agreement, NIRL will contribute its renewable energy project development expertise, while APDCL will facilitate crucial local operations including land acquisition, regulatory clearances, and power evacuation infrastructure.
The joint venture company has secured 25-year Power Purchase Agreements with Assam's power distribution companies, ensuring long-term project viability.
The initiative comes as Assam faces increasing energy demands, with the joint venture positioned to enhance the state's power security through sustainable means.
This aligns with the Indian government's broader strategy to expand the nation's renewable energy capacity as part of its climate change mitigation efforts and sustainable development goals.
NIRL Chairman Prasanna Kumar Motupalli emphasised the partnership's strategic importance, stating, "This JV signifies our collective resolve to empower Assam with clean and sustainable energy solutions.”
He further stated,“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."
The joint venture is expected to play a crucial role in helping Assam meet its Renewable Purchase Obligation while promoting environmental sustainability.
The project will emphasise technological innovation to optimise efficiency and reduce carbon emissions, marking a significant step toward the region's green energy transition.
(KNN Bureau)
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