Bhubaneswar, June 24 (UDN): In a major step towards accelerating Odisha’s clean energy transition, NLC India Renewables Limited (NIRL) and Odisha Renewable Energy Development Agency (OREDA) signed a Joint Venture Agreement on Tuesday to jointly develop 1000 MW of renewable energy projects across the state.
The signing ceremony, held in Bhubaneswar, was graced by Deputy Chief Minister Kanak Vardhan Singh Deo, who described the partnership as a milestone in strengthening Odisha’s renewable energy ecosystem and achieving its clean energy targets.
The proposed Joint Venture Company (JVC) will focus on a diversified renewable energy portfolio, including 250 MW of wind power projects and 225 MW of floating solar projects, along with other green energy initiatives to be implemented in phases across Odisha.
Speaking on the occasion, the Deputy Chief Minister said the collaboration between NIRL and OREDA would harness Odisha’s renewable energy potential while combining technical expertise and financial strength to accelerate sustainable development. He added that the initiative would support the state’s Renewable Purchase Obligation (RPO) targets and position Odisha as a leading hub for green innovation in India.
The JVC will be structured with 51% equity participation from NIRL and 49% from OREDA. The Board of Directors will consist of five members, including three nominees from NIRL and two from OREDA, ensuring balanced governance and coordinated decision-making.
Additional Chief Secretary (Energy) Vishal Kumar Dev stated that the initiative will significantly enhance the state’s institutional capacity to execute large-scale renewable energy projects and support Odisha’s long-term sustainability goals.
Senior officials including Prasanna Kumar Acharya and Devendra Pratap Singh, along with representatives from the Energy Department, OREDA, and NIRL, attended the event.
Officials said the partnership marks a crucial step in Odisha’s journey toward a cleaner, greener, and more energy-secure future.
