Energizing Assam: NLC India and Assam Power Distribution Company Limited Plug Into a Greener Tomorrow

NLC India Limited's renewable energy business NLC India Renewables Ltd (NIRL) has completed the formation of a joint venture with Assam Power Distribution Company Ltd (APDCL) under the name and style of 'NIRL Assam Renewables Limited" for developing, operating and maintaining Renewable Energy Projects in the state of Assam. The new joint venture company will have a 51% stake held by NIRL and a 49% stake held by APDCL.

 

The joint venture plans to satisfy Assam's growing energy demands by setting up large-scale renewable energy ventures, offering low-cost and reliable power supply, and enabling the state to achieve long-term energy security. NIRL will contribute its expertise in developing renewable energy ventures, while APDCL will contribute land acquisition, regulatory clearances, and power transmission facilities.

 

Power purchase agreements will be signed with Assam's distribution utilities for sale of 100% of the power generated for 25 years. The project will be expected to generate socio-economic growth in Assam through green jobs and increased sustainability index of the state. NIRL Chairman Prasanna Kumar Motupalli stated that the joint venture "marks our combined determination to empower Assam with clean and sustainable energy solutions."

 

This JV establishment is a milestone to enhance the renewable energy capacity of Assam and also serves India's climate and sustainable development goals as a whole.

 

Source: Reuters