The collaboration supports the Center's goal of boosting the share of renewable energy in the nation's energy mix in order to fight climate change and promote sustainable development.

 

Assam Power Distribution Company Limited (APDCL) and the government-owned NLC India Ltd.'s renewables division have signed a joint venture deal to develop 1000 MW solar power projects in the state.

 

According to the deal, APDCL would own 49% of the joint venture, while NLC India Renewables Limited (NIRL) will own 51% of the equity sharing.

 

NIRL will provide its knowledge of developing renewable energy projects. Infrastructure for electricity evacuation, regulatory approvals and land acquisition will all be made easier by APDCL. According to the NLC announcement, Power Purchase Agreements (PPAs) will be inked with Assam DISCOMs for the selling of all generated power for a period of 25 years.

 

According to NIRL Chairman Prasanna Kumar Motupalli, "this project will not only guarantee Assam's energy security but also spur socioeconomic growth by boosting the state's sustainability index and generating green jobs”.

 

By creating renewable energy projects, guaranteeing a reasonably priced and dependable power supply, and advancing the State's long-term energy security, the joint venture seeks to meet Assam's rising energy needs. According to the statement, the collaboration supports the Center's mission to boost the share of renewable energy in the nation's energy mix in order to fight climate change and promote sustainable development.

 

The joint-venture entity is expected to be crucial in meeting the renewable procurement obligation and providing ecologically friendly energy solutions for Assam. It will concentrate on using cutting-edge technology to increase productivity and reduce carbon emissions, opening the door to a more environmentally friendly future.

 

By meeting the State's energy demands and complementing India's renewable energy ambitions, this JVA marks an important partnership to advance green energy and sustainable development in Assam.

 

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.