State-run NLC India’s subsidiary NLC India Renewables (NIRL) has signed a joint venture (JV) agreement with Assam Power Distribution Company (APDCL) to set up 1 gigawatts (GW) of green energy projects in Assam.
The JV agreement outlines the establishment of a Joint Venture Company (JVC) aimed at developing 1 GW of green energy projects in the north-eastern State. The JVC will be established with an equity shareholding of 51 per cent by NIRL and 49 per cent by APDCL.
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 25 years.
The JV 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.
NIRL Chairman Prasanna Kumar Motupalli said, “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 JVC 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 maximize efficiency and minimize the carbon footprint, thereby paving the way for a greener future.
