Odisha Signs JV with NLC India to Accelerate Renewable Energy Expansion

Bhubaneswar: Odisha has taken another major step towards expanding its clean energy ecosystem with the signing of a Joint Venture Agreement (JVA) with NLC India Limited to develop renewable energy projects with a cumulative capacity of 1,000 MW across the State.

The collaboration is expected to strengthen Odisha’s renewable energy ambitions while creating the foundation for large-scale green infrastructure and supporting the State’s transition towards a low-carbon economy.

The agreement was formalised 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 in Bhubaneswar.

Officials said the proposed Joint Venture Company (JVC) will lead planning, execution and operation of renewable energy projects in Odisha with a diversified portfolio that includes wind, floating solar and other emerging clean energy technologies.

As part of the initial development roadmap, the venture proposes to establish 250 MW of wind power capacity and 225 MW of floating solar projects, with additional renewable energy initiatives to be taken up in phases.

Attending the signing ceremony, Deputy Chief Minister and Energy Minister Kanak Vardhan Singh Deo described the partnership as a strategic investment in Odisha’s energy future.

He said the initiative goes beyond power generation and reflects the State Government’s focus on building a sustainable energy ecosystem capable of supporting industrial growth, environmental goals and rising future demand.

Singh Deo noted that Odisha possesses significant untapped renewable potential and that collaboration with an experienced public sector enterprise would accelerate project execution and enhance investor confidence in the sector.

Officials stated that the venture would also assist the State in meeting its Renewable Purchase Obligation commitments and contribute to the national clean energy agenda.

Under the agreed structure, NIRL will hold 51 per cent equity in the Joint Venture Company while OREDA will retain 49 per cent ownership. The company’s Board of Directors will include five members, with representation from both entities.

Additional Chief Secretary Vishal Kumar Dev said the partnership would help Odisha build stronger institutional mechanisms for implementing large renewable energy programmes and further reinforce the State’s commitment to sustainable development.

With the agreement now in place, Odisha is expected to accelerate deployment of renewable energy infrastructure and expand its role in India’s evolving green energy landscape.