NLC India Ltd Partners with APDCL to Launch 1000 MW Solar Initiatives in Assam
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Guwahati, Jan 11 (NationPress) Government-owned NLC India Ltd announced on Saturday that its renewables division has entered into a joint venture agreement with Assam Power Distribution Company Limited (APDCL) aimed at developing 1000 MW solar power projects in the state.
As per the agreement, NLC India Renewables Limited (NIRL) will possess an equity stake of 51 percent in the joint venture, while APDCL will hold a 49 percent share.
NIRL will contribute its expertise in renewable energy project development, while APDCL will assist in land acquisition, securing regulatory approvals, and establishing power evacuation infrastructure. Power Purchase Agreements (PPAs) will be finalized with Assam DISCOMs for the sale of all generated power over a period of 25 years, according to the statement from NLC.
“This initiative will not only ensure energy security for Assam but also stimulate socio-economic growth by creating green jobs and improving the state’s sustainability index,” stated NIRL Chairman Prasanna Kumar Motupalli.
The joint venture is designed to respond to Assam’s increasing energy requirements by developing renewable energy projects, guaranteeing affordable and reliable power supply, and enhancing the state’s long-term energy security. This collaboration is in line with the Government of India’s efforts to boost renewable energy in the country’s energy landscape to tackle climate change and promote sustainable growth, as mentioned in the statement.
The Joint Venture Company is poised to play a crucial role in fulfilling Assam’s energy demands in an environmentally friendly manner while adhering to the Renewable Purchase Obligation. It will prioritize the use of innovative technologies to maximize efficiency and reduce carbon emissions, paving the way for a more sustainable future.
This Joint Venture Agreement signifies a major collaboration to advance green energy and sustainable development in Assam, meeting the state’s energy requirements while supporting India’s renewable energy objectives.
NLC India Renewables Limited (NIRL), the renewable arm of NLC India Limited, is dedicated to consolidating the renewable assets of its parent company and leading future renewable energy initiatives. Established to enhance operational efficiency and streamline investments in renewable energy, NIRL plays a vital role in advancing NLC India’s commitment to the nation’s energy transition while ensuring environmental sustainability, according to the statement.
