NLC India Renewables Limited (NIRL) and Assam Power Distribution Company Limited (APDCL) have formalized a Joint Venture Agreement to establish a 1000 MW solar power project in Assam. The agreement was signed on Friday in Guwahati, emphasizing both organizations’ dedication to fostering sustainable energy solutions in the region.
The event saw the presence of key dignitaries, including Assam’s Power Minister, Prasant Phukan; Principal Secretary (Energy), KK Diwedi; APDCL Chairman Syedain Abbasi; APDCL Managing Director Rakesh Kumar; and APGCL Managing Director Bibhu Bhuinya. On behalf of 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, a fully owned subsidiary of NLC India Limited, is responsible for driving the renewable energy initiatives of its parent company. The joint venture represents a crucial milestone in NIRL’s commitment to advancing India’s energy transition while promoting environmental sustainability.
The venture will be managed jointly, with NIRL holding a 51% stake and APDCL a 49% stake. Together, they aim to develop 1000 MW of green energy capacity in Assam, addressing the state’s growing energy demands through sustainable power sources. NIRL will bring its expertise in renewable energy development, while APDCL will assist with land acquisition, securing necessary approvals, and setting up power evacuation infrastructure.
Additionally, the project will enter into Power Purchase Agreements (PPAs) with Assam’s Distribution Companies (DISCOMs) to ensure the sale of 100% of the generated power for the next 25 years.
Prasanna Kumar Motupalli, Chairman of NIRL, stated, “This Joint Venture highlights our joint commitment to delivering clean, sustainable energy to Assam. By harnessing the combined strengths of NIRL and APDCL, we aim to build the necessary infrastructure for renewable energy generation and distribution.” He further noted, “This project will not only strengthen Assam’s energy security but also stimulate socio-economic growth by creating green jobs and improving the state’s sustainability.”
This agreement represents a significant step forward in enhancing Assam’s renewable energy capacity and supports India’s broader climate objectives. The Joint Venture will prioritize the use of advanced technologies to optimize efficiency, reduce carbon footprints, and help meet the state’s Renewable Purchase Obligation (RPO), contributing to both local energy security and national renewable energy targets.
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