NLC India and Nalco sign JV for 1,080 MW power project
after close1 source ↓written by the desknot a recommendation
- coal-based captive thermal
- 1,080 MW
- for full power
- 25-year power purchase agreement
- from both companies
- 50:50 equity participation
- will secure coal
- 25-year fuel supply agreement
NLC India Limited and National Aluminium Company Limited have signed a joint venture agreement to develop a 1,080 MW coal-based captive thermal power plant in Angul, Odisha. The project will support NALCO's aluminium smelter expansion, ensuring a 25-year power purchase agreement for full power offtake.
• The JV will have 50:50 equity participation from both companies.
• A 25-year fuel supply agreement will secure coal from NLCIL's Machhakata mine.
This collaboration may enhance operational efficiency and power reliability for NALCO's expansion plans.
Not investment advice. For informational purposes only.