Guwahati: NLC India Renewables Limited (NIRL) and Assam Power Distribution Company Limited (APDCL) signed a Joint Venture Agreement on Friday to establish a 1000 MW solar power project in the state.
The signing ceremony, held in Guwahati, underscores both organizations' commitment to promoting sustainable energy solutions in Assam.
The event was attended by notable dignitaries, including Prasant Phukan, Power Minister of Assam; KK Diwedi, Principal Secretary (Energy), Assam; Syedain Abbasi, Chairman of APDCL; Rakesh Kumar, Managing Director of APDCL; and Bibhu Bhuinya, Managing Director of APGCL.
From NLC India Renewables Limited, the agreement was signed by Prasanna Kumar Acharya, Director (Finance), and Jagidsh Mazumdar, Executive Director (Planning and Business Development).
NLC India Renewables Limited (NIRL), a wholly-owned subsidiary of NLC India Limited, is tasked with driving the renewable energy initiatives of its parent company.
The new joint venture represents a significant step toward NIRL's goal of advancing India's energy transition while maintaining environmental sustainability.
The establishment of the Joint Venture Company (JVC) will be jointly managed, with NIRL holding a 51 per cent stake and APDCL holding 49 per cent.
This partnership will focus on developing 1000 MW of green energy projects in Assam, addressing the growing energy demands of the state through sustainable, clean power sources.
NIRL will contribute its extensive expertise in renewable energy project development, while APDCL will assist in acquiring land, securing regulatory approvals, and establishing power evacuation infrastructure.
Additionally, the project will sign Power Purchase Agreements (PPAs) with Assam's Distribution Companies (DISCOMs) to ensure the sale of 100 per cent of the generated power for the next 25 years.
Speaking on the occasion, Prasanna Kumar Motupalli, Chairman, NIRL said, "This Joint Venture signifies our collective resolve to empower Assam with clean and sustainable energy solutions. By leveraging the synergies between NIRL and APDCL, we aim to build robust infrastructure for renewable energy generation and distribution."
He added, "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 agreement marks a pivotal move in Assam's journey toward enhancing its renewable energy capacity while contributing to India's broader climate goals.
The Joint Venture Company will focus on deploying innovative technologies to maximize efficiency, minimize carbon footprints, and meet the state's Renewable Purchase Obligation (RPO). In doing so, it will play a key role in boosting Assam's energy security while aligning with India's ambitious renewable energy targets. (ANI)