NLC India Limited informed that it has signed a Memorandum of Understanding with Assam Power Distribution Company Limited (APDCL) and marking its footprints in the North East region.
NLCIL, under the administrative control of the Ministry of Coal, and APDCL, 100% owned by the Government of Assam, have entered into a Memorandum of Understanding to form a joint venture with 51% ownership by NLCIL and 49% by APDCL.
The JV aims to develop a 1000 MW solar power project in the state of Assam to equip citizens with needed energy while maintaining ecology with green energy sources.
This initiative will contribute to the development of Assam by creating new employment opportunities, technical know-how and overall improvement of the state.
The MoU was signed in the auspicious presence of the Honorable Ministers, by K Mohan Reddy, Director (Planning and Projects), NLCIL, and R Kumar IAS, Managing Director, APDCL.
NLCIL has a pan-Indian presence, with Assam in the North East region being the sixth state where it has left its mark. NLCIL spread its wings from Tamil Nadu and could mark its flight to states in all directions from South to North and East to West including Rajasthan, Odisha, Uttar Pradesh, Jharkhand and the union territory of the Andaman and Nicobar Islands.
NLCIL is the first CPSE to exceed 1 GW of solar power generation capacity.
By 11:25 am, NLC India was trading at Rs74.25 up 3.05% from its previous close of Rs72.05 on BSE. The certificate opened at Rs73.35 and hit the intraday high and low of Rs75.10 and Rs71.55 respectively.