NLC India's Subsidiary Signs PPA for 110 MW Solar Project
NLC India's subsidiary, NIRL, signed a PPA with NCRTC for a 110 MW solar project through their JV, NNRL. NIRL holds 74% equity. The project in Uttar Pradesh has a 25-year PPA and a 24-month commissioning timeline.
The PPA for a 110 MW solar project represents a significant business development for the subsidiary and contributes to the company's renewable energy portfolio. The 25-year PPA and JV structure indicate a stable, long-term revenue stream and strategic partnership.
The announcement details the execution of a Power Purchase Agreement for a new solar power project by a subsidiary, indicating business expansion and a step towards renewable energy goals.
NLC India Limited announced that its wholly owned subsidiary, NLC India Renewables Limited (NIRL), has executed a Power Purchase Agreement (PPA) for a 110 MW Solar Power Project. This project is being developed through NNRL, a Joint Venture between NIRL (74% equity) and National Capital Region Transport Corporation Limited (NCRTC) (26% equity).
The PPA was executed between NNRL and NCRTC in New Delhi. Under the agreement, NCRTC will procure power from the project on a captive basis for a period of 25 years. The project is slated for development in Uttar Pradesh and has a Scheduled Commissioning Date within 24 months from the signing of the PPA. It is expected to generate 180 MU annually.
A plain-language summary of a public exchange filing by NLC India Limited. Read the original for the full detail.