NLC to form 2 JVs with RRVUNL to set up thermal power station, RE projects in Rajasthan

New Delhi: State-run NLC India Limited (NLCIL) has announced its decision to form two joint ventures (JV) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) which will focus on setting up a lignite-based thermal power station and establishing Renewable Energy (RE) projects in Rajasthan. The two companies have signed a joint venture agreement in this regard. Neyveli Lignite Corporation said that the decision to set up two JV companies is in line with the PSU’s corporate plan for aggressive capacity addition.

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“With the vision of Prime Minister Shri Narendra Modi, for energy security with sustainable energy generation, under the guidance of Union Minister of Coal and Mines Shri G Kishan Reddy and Minister of State for Coal and Mines Shri Satish Chandra Dubey, and in line with the corporate plan for aggressive capacity addition, NLC India Ltd has entered into Joint Venture Agreements for formation of two significant Joint Ventures (JVs) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL),” said a statement.

NLC signs 2 JV agreements with RRVUNL

One JV agreement has been signed between NLC India Renewables Limited (NIRL), a subsidiary of NLC, and RRVUNL to establish RE projects in the state of Rajasthan and another agreement has been signed between NLCIL and RRVUNL for the development of a lignite-based Thermal Power Station. In both the JVs, NLCIL will hold a 74 percent equity stake, while RRVUNL will hold 26 percent.

In the presence of Rajasthan’s Additional Chief Secretary (ACS) Alok (IAS), and NLCIL CMD Prasanna Kumar Motupalli. The JV agreements were signed by NLCIL’s Director (Finance) Dr Prasanna Kumar Acharya and RRVUNL CMD Devendra Shringi. “These JVs mark a significant step towards advancing sustainable energy and power generation,” said the statement.

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