State-owned NLC India Ltd on Saturday said its renewables arm has entered into a partnership agreement with Assam Power Distribution Company Ltd (APDCL) to develop 1000 MW solar power projects in Assam.
The agreement was signed between NLC India Renewables Ltd (NIRL) and APDCL, a company statement said. While NIRL will hold 51 percent in the JV, APDCL will hold 49 percent.
As per the agreement, NIRL will bring its expertise in renewable energy project development and APDCL will facilitate land acquisition, regulatory approvals, and power generation infrastructure.
Power purchase agreements will be signed with Assam discoms to sell 100 percent of the power generated for 25 years.
“This project will not only ensure power security in Assam but will also promote socio-economic development by creating green jobs and improving the sustainability index of the state,” NIRL Chairman Prasanna Kumar Motupalli said.
This joint venture aims to address Assam’s growing energy needs by building renewable energy projects, ensuring affordable and reliable power supply, and contributing to the long-term energy security of the state.
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