NLC India & NALCO Form JV for 1080 MW Power Plant

NLC India Ltd has signed a Joint Venture Agreement with National Aluminium Company Limited (NALCO) to establish a Joint Venture Company (JVC). This JVC will develop a 1080 MW (4x270 MW) coal-based thermal captive power plant in Angul, Odisha. The plant's primary purpose is to meet the captive power requirements for NALCO's 0.5 MTPA Aluminium Smelter Expansion Project. The JV will be on a 50:50 equity basis, with both NLCIL and NALCO holding equal stakes. The agreement includes terms for a 25-year Fuel Supply Agreement (FSA) with NLCIL and a 25-year Power Purchase Agreement (PPA) with NALCO for 100% offtake.