New Delhi: State-owned NLC India Ltd on Saturday said its renewables arm has entered into a joint venture pact with Assam Power Distribution Company Ltd (APDCL) for developing 1000 MW solar power projects in Assam.
The pact has been signed between NLC India Renewables Ltd (NIRL) and APDCL, a company statement said. While NIRL will have 51 per cent stake in the JV, APDCL will have 49 percent.
As per the pact, NIRL will bring its expertise in renewable energy project development and APDCL will facilitate land acquisition, regulatory approvals, and power evacuation infrastructure.
Power purchase pacts will be signed with Assam discoms for the sale of 100 percent of the generated power for 25 years.
"This initiative will not only ensure energy security for Assam but also catalyse socio-economic development by creating green jobs and enhancing the state's sustainability index," NIRL Chairman Prasanna Kumar Motupalli said.
The joint venture aims to address Assam's growing energy demands by developing renewable energy projects, ensuring affordable and reliable power supply, and contributing to the state's long-term energy security.
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