Bhubaneswar, June 24 (APAC Media): NLC India Renewables Limited (NIRL), the renewable energy subsidiary of NLC India Limited, has entered into a joint venture agreement with the Odisha Renewable Energy Development Agency (OREDA) to develop 1,000 MW of renewable energy capacity across Odisha.
Under the visionary leadership of Hon’ble Chief Minister Shri @MohanMOdisha, #Odisha continues to accelerate its transition towards a sustainable and future-ready energy ecosystem.
NLC India Renewables Limited and OREDA have signed a Joint Venture Agreement to develop 1000 MW of… pic.twitter.com/27eiUqyZHT
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The agreement was signed in the presence of Odisha Deputy Chief Minister and Energy Minister KV Singh Deo at Kharavela Bhavan.
The proposed joint venture company will focus on a range of clean energy projects, including 250 MW of wind energy and 225 MW of floating solar power, along with other renewable energy initiatives.
Highlighting the significance of the partnership, Singh Deo said the collaboration marks a major step towards strengthening Odisha’s clean energy ecosystem and supporting sustainable industrial development in the state.
Under the shareholding structure, NIRL will hold a 51% stake in the joint venture, while OREDA will own the remaining 49%. The company’s board will consist of five directors, with three representatives from NIRL and two from OREDA.
Additional Chief Secretary (Energy) Vishal Kumar Dev said the initiative would enhance the state’s ability to implement large-scale renewable energy projects while advancing its low-carbon development goals.
Senior officials from both organisations, including NIRL CEO Devendra Pratap Singh and NLC India Director (Finance) Prasanna Kumar Acharya, were present during the signing ceremony.
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