NLC India Renewables (NIRL), a subsidiary of NLC India, has joined hands with Assam Power Distribution Company (APDCL) to set up a joint venture (JV) for solar power projects in Assam. The agreement focuses on developing 1,000 MW of green energy capacity, with NIRL holding a 51% equity stake and APDCL owning 49%.
Under this collaboration, NIRL will bring its mastery in renewable energy project development. At the same time, APDCL will facilitate land acquisition, secure regulatory approvals, and establish power evacuation infrastructure. The generated power will be sold entirely to Assam DISCOMs through a 25-year power purchase agreement.
Meeting Assam’s Energy Demands
The JV aims to cater to Assam’s growing energy requirements by ensuring an affordable and reliable power supply. This aligns with the Government of India’s mission to advance renewable energy and combat climate change while enhancing the state’s energy security.
Prasanna Kumar Motupalli, Chairman of NIRL, highlighted the significance of this venture: “This JV signifies our collective resolve to empower Assam with clean and sustainable energy solutions. By leveraging the synergies between NIRL and APDCL, we aim to build robust renewable energy infrastructure. This initiative will not only ensure energy security for Assam but also catalyze socio-economic development by creating green jobs and enhancing the state’s sustainability index.”
Financial Snapshot
NLC India, a Navratna public sector enterprise, is known for its expertise in fossil fuel mining and thermal power generation. As of September 30, 2024, the Government of India held a 72.20% stake in the company. However, in Q2 FY25, NLC India reported a 15.9% drop in net profit to ₹911.85 crore, despite a 22.8% rise in operational revenue to ₹3,657.27 crore.
Future Impact
The JV not as it were fortifies Assam’s renewable energy portfolio but too bolsters India’s broader renewable energy objectives. By cultivating sustainable development, the activity guarantees to contribute altogether to Assam’s socio-economic development and environmental sustainability.
This partnership positions Assam as a key player in India’s renewable energy transition, creating pathways for a greener and more resilient future.
