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NLC India enters into JVA with Rajasthan for Power Capacity Addition

Published: Oct 25, 2024

By TIOLCorplaws News Service

NEW DELHI, OCT 25, 2024: WITH the vision of Prime Minister Narendra Modi, for energy security with sustainable energy generation, under the guidance of Union Minister of Coal and Mines G Kishan Reddy and Minister of State for Coal and Mines Satish Chandra Dubey, and in line with 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). First JV is signed between NLC India Renewables Limited (NIRL) and RRVUNL to establish Renewable Energy projects in the state of Rajasthan and Second JV is between NLCIL and RRVUNL for the development of a Lignite-Based Thermal Power Station.

In the presence of Additional Chief Secretary (ACS), Energy, Govt. of Rajasthan Alok, IAS, and CMD, NLCIL, Prasanna Kumar Motupalli, the JV agreements were signed by Director (Finance), NLCIL Dr. Prasanna Kumar Acharya and CMD, RRVUNL, Devendra Shringi. In both the Joint Ventures (JVs), NLCIL will hold a 74% equity stake, while RRVUNL will hold 26%.

These JVs mark a significant step towards advancing sustainable energy and power generation.

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