NLC India Ltd announced a joint venture agreement with Assam Power Distribution Company Limited (APDCL) to develop 1000 MW of solar power projects in Assam. Under the arrangement, NLC India Renewables Limited (NIRL), the renewables arm of NLC, will hold a 51% equity stake, while APDCL will possess 49%. NIRL will leverage its expertise in renewable energy project development, while APDCL will assist with land acquisition, regulatory approvals, and necessary power evacuation infrastructure.
The joint venture aims to secure energy for Assam and foster socio-economic growth by creating green jobs and enhancing the state’s sustainability index. Power Purchase Agreements (PPAs) will be established with Assam DISCOMs for the sale of all generated power for a period of 25 years.
