State-owned NLC India Ltd announced on Saturday that its renewables arm, NLC India Renewables Ltd (NIRL), has entered into a joint venture agreement with Assam Power Distribution Company Ltd (APDCL) to develop 1000 MW solar power projects in Assam.
Under the agreement, NIRL will hold a 51% stake, while APDCL will own the remaining 49% in the joint venture. NIRL will leverage its expertise in renewable energy project development, while APDCL will manage land acquisition, regulatory approvals, and power evacuation infrastructure.
Power purchase agreements will be established with Assam’s power distribution companies for the sale of 100% of the generated power over 25 years.
Speaking on the initiative, Mr. Prasanna Kumar Motupalli, Chairman of NIRL, emphasized the project’s dual benefits: “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 collaboration aims to address Assam’s increasing energy needs by providing affordable and reliable power while contributing to the state’s long-term energy security and sustainability goals.
