To expedite the state’s shift to sustainable energy, the Odisha government entered into a Joint Venture Agreement (JVA) with NLC India Limited, a Navratna Public Sector Undertaking (PSU). An official announcement claims that OREDA Limited (Odisha Renewable Energy Development Agency), which is part of the Energy Department at Kharavela Bhavan, and NLC India Renewables Limited (NIRL), a fully owned subsidiary of NLC India Limited, signed the JVA. Kanak Vardhan Singh Deo, the Energy Minister and Deputy Chief Minister, was there and oversaw the signing ceremony. In Odisha, the Joint Venture Company (JVC) wants to lead the construction of 1,000 MW of green energy projects.
In addition to other renewable energy projects, the collaboration will concentrate on a varied portfolio that includes 250 MW of wind power and 225 MW of floating solar power projects. The partnership between NIRL and OREDA, according to Deputy Chief Minister Singh Deo, represents a turning point in Odisha’s energy history. He pointed out that the project will fulfill pledges to clean energy and advance Odisha toward its Renewable Purchase Obligation objectives by fusing the state’s renewable resources with technological and financial know-how.
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.
