APGCL Signs a Joint Venture with OIL Enriching Renewable Power Generation in Assam

Assam Power Generation Corporation Ltd., a public sector energy enterprise developed under the state government, has recently collaborated with Oil India Ltd., putting forth the idea to maximize renewable power generation. Signing a Joint Venture Agreement (JVA), the companies agreed to work together in order to maximize power generation through renewable resources and meet the rising energy demands in the state. The agreement was signed to increase the production of sustainable energy or green energy while empowering the global goal for net zero by 2040.

Oil India Ltd., OIL, is one of the major petrochemical firms. The company has already installed 188.1 MW of green energy plants across various states, covering Gujarat, Rajasthan, and Madhya Pradesh. Both the companies are focused on setting up green power projects of 620 MW under the JVA after attaining the approvals from the Assam cabinet earlier in March 2023.

The plan projects to establish various energy and power generation setups including a 70 MW Sonbeel Floating Solar Power Project, 100-MW Tezpur Agrivoltaic Project, 40-MW Golaghat Floating Solar Power Project, 20-MW Margherita Solar Power Project, 50-MW Lower Kopili Agrivoltaic Project, a Solar Power Project of around 100-MW Batadrava Agrivoltaic Project along with 60-MW Chandrapur PSP. The idea to set up this green power business is aiming towards increasing renewable energy production in the state of Assam while boosting employment opportunities and promoting sustainable energy production.

According to Procurement Resource, the Assam Power Generation Corporation Ltd. has collaborated with Oil India Ltd, signing a Joint Venture agreement to promote green power development. The agreement majorly projects the idea of developing renewable energy to maximize power production in Assam while facilitating net zero goals by 2040.