GUWAHATI — 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.
