Odisha govt signs JVA with NLC India to boost renewable energy
Bhubaneswar, June 23
The Odisha government on Tuesday signed a Joint Venture Agreement with NLC India Limited, a Navratna Public Sector Undertaking, to accelerate the state's transition to sustainable energy.
According to an official statement, the JVA was signed between NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India Limited, and OREDA Limited (Odisha Renewable Energy Development Agency), under the Energy Department at Kharavela Bhavan.
The event was attended by Deputy Chief Minister and Energy Minister Kanak Vardhan Singh Deo, who presided over the signing ceremony. The Joint Venture Company (JVC) aims to spearhead the development of 1,000 MW of green energy projects across Odisha.
The partnership will focus on a diverse portfolio, including 250 MW of wind power and 225 MW of floating solar power projects, as well as other renewable energy initiatives.
Deputy CM Singh Deo said the collaboration between NIRL and OREDA marks a defining moment for Odisha's energy landscape.
He noted that by combining the state's renewable potential with technical and financial expertise, the venture would fulfil commitments to clean energy while driving Odisha toward its Renewable Purchase Obligation targets.
"This venture will catalyse sustainable industrial growth and cement Odisha's position as a hub for green innovation in India," he added.
Officials stated that the JVC will have an equity participation structure of 51 per cent held by NIRL and 49 per cent by OREDA. The Board of Directors will comprise five members, with three nominated by NIRL and two by OREDA.
Additional Chief Secretary Vishal Kumar Dev said the initiative represents a pivotal step in strengthening Odisha's institutional capacity to manage large-scale renewable projects and reinforces the state's dedication to a cleaner, greener future.
— IANS
Reader Comments
Finally some good news for Odisha's energy sector! The 51:49 equity split shows NLC's confidence. But I hope the local communities benefit too - jobs and skill development should be part of this deal. Renewable energy is the future, no doubt about it.
While I support green energy, I have some concerns. Where exactly will these 1,000 MW projects come up? Land acquisition issues have plagued many such initiatives before. Also, 225 MW floating solar sounds innovative but environmental impact studies must be thorough. Let's see the detailed plan first.
This is exactly what we need - a mix of wind and solar! Odisha has excellent wind potential along the coast. Deputy CM Singh Deo seems serious about clean energy. Just hope execution matches the enthusiasm. Renewable Purchase Obligation targets are important but we also need affordable power for consumers.
Good initiative, but why only 1,000 MW? Odisha has potential for much more. Also, the JVC structure with NLC holding 51% means private sector could have done better. Still, any step towards green energy is welcome. Floating solar is a great idea for coastal states like Odisha. 🌞
Impressive to see a state government and PSU working together so seamlessly! The floating solar component is particularly exciting - we've seen successful projects in other countries. Hope OREDA and NLC India set a benchmark for other states. Odisha can truly become a green energy leader! 👏
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