BHUBANESWAR: NLC India Renewables Limited (NIRL), the renewable energy arm of NLC India Limited, and Odisha Renewable Energy Development Agency (OREDA) on Tuesday signed a joint venture agreement to develop 1,000 MW of green energy projects across the state.
The agreement was signed in the presence of deputy chief minister-cum-Energy minister KV Singh Deo at Kharavela Bhavan here. Under the partnership, the proposed joint venture company (JVC) will undertake a diverse portfolio of renewable energy projects, including 250 MW of wind power capacity and 225 MW of floating solar power projects, besides other clean energy initiatives.
Describing the collaboration as a defining moment for Odisha’s energy sector, Singh Deo said the venture will promote sustainable industrial growth and strengthen Odisha’s position as a leading destination for green innovation.
As per the agreement, NIRL will hold a 51 per cent stake in the joint venture while OREDA will own the remaining 49 per cent. The company’s board will comprise five directors, including three nominated by NIRL and two by OREDA.
Additional chief secretary, Energy, Vishal Kumar Dev said the initiative would enhance Odisha’s institutional capacity to execute large-scale renewable energy projects and reinforce its commitment to a low-carbon future. “The partnership aligns with India’s broader climate and sustainability goals while helping Odisha expand its renewable energy footprint and attract green investments,” he said. NIRL CEO Devendra Pratap Singh and NLC India director (Finance) Prasanna Kumar Acharya were present.