New Delhi: NLC India Renewables Limited (NIRL), the renewable energy subsidiary of state-owned NLC India Limited (NLCIL), has signed a joint venture agreement (JVA) with OREDA Ltd to set up 1 GW of green energy projects in Odisha in the first phase, the company said on Wednesday.
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Beyond the initial 1 GW (1,000 MW), the JV is mandated to take up the establishment, operation and maintenance of green energy capacity, along with the development of other objectives, assets and ancillary activities in the green energy space, including through forward and backward integration, in the state. The 1 GW rollout is subject to establishing techno-commercial feasibility and securing the necessary approvals from the respective boards, governments, the Ministry of Coal (MoC) or any other authority.
NLCIL framed the tie-up as part of its support for the country's "Viksit Bharat" and Net Zero Carbon goals.
The agreement was signed on June 23 in Odisha by Devendra Pratap Singh, Chief Executive Officer of NIRL, and Saidutta Biplab Keshari Pradhan, CEO of OREDA and Special Secretary in the Department of Energy, government of Odisha.
The signing took place in the presence of Odisha Deputy Chief Minister Kanak Vardhan Singh Deo, OREDA Chairman Vishal Kumar Dev, who is also Additional Chief Secretary in the state's Department of Energy, NLCIL Director (Finance) Dr Prasanna Kumar Acharya, and other officials of both organisations.
NIRL is a wholly-owned subsidiary of NLCIL, a Navratna central public sector enterprise under the administrative control of the Ministry of Coal. The subsidiary has been expanding into large-scale renewable and green energy initiatives spanning solar, wind, pumped hydro storage, Battery Energy Storage Systems (BESS), green hydrogen, low-carbon round-the-clock power and waste-to-energy projects.
Speaking on the occasion, NLCIL Chairman and Managing Director (CMD) Prasanna Kumar Motupalli said the partnership with OREDA marked a significant milestone in the company's strategic diversification into clean and sustainable energy, and emphasised the development of renewable energy projects across technologies, including solar, wind, hybrid, BESS, pumped hydro storage, green hydrogen and any new renewable energy technology that may emerge in the future.
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NLCIL described the collaboration as a step towards strengthening India's clean energy ecosystem, reflecting both organisations' commitment to sustainable development, technological advancement and nation-building through green energy.
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