Guwahati: Assam Power Generation Corporation Ltd. (APGCL), a public sector enterprise of the state government, on Monday, signed a Joint Venture Agreement (JVA) with Oil India Ltd (OIL) for maximizing energy generation to meet the energy demand and committed to achieving maximum renewable power generation in the state.
The JVA was signed to boost the country’s efforts towards energy transition and to achieve OIL’s target for net zero by 2040. OIL already established 188.1 MW of renewable energy plants across Rajasthan, Gujarat and Madhya Pradesh.
The JVA was executed by Biswabrata Lahkar, executive director (business development) on behalf of OIL and Bibhu Bhuyan, managing director on behalf of APGCL in the presence of APGCL chairman and other senior officials of OIL and APGCL.
On March 17, 2023, the Assam Cabinet gave in-principle approval to green power projects of 620 MW to be executed under a joint venture (JV) between APGCL and OIL.
The various projects to be implemented include 70-MW Sonbeel Floating Solar Power Project, 100-MW Tezpur Agrivoltaic Project, 40-MW Golaghat Floating Solar Power Project, 200-MW Margherita Solar Power Project, 50-MW Lower Kopili Agrivoltaic Project, 60-MW Chandrapur PSP, along with Solar Power Project 100-MW Batadrava Agrivoltaic Project.
These projects have the potential to generate significant employment opportunities.
The funding will be in the form of an 80:20 debt-equity ratio, with no liability on the state government.