| Work Detail |
In a significant move towards fostering sustainable and eco-friendly renewable energy, Container Corporation of India Limited (CONCOR) and NTPC VIDYUT VYAPAR NIGAM LIMITED (NVVN) joined hands by signing a Memorandum of Understanding (MoU) on December 7, 2023. The collaborative effort aims to explore the establishment of Photovoltaic (PV) Solar renewable energy projects within CONCOR terminals.
The MoU, formalized in the presence of Mr. Sanjay Swarup, CMD CONCOR, and Ms. Renu Narang, CEO NVVN, signifies the mutual commitment of NVVN and CONCOR to reduce carbon emissions and promote renewable power generation. This initiative aligns with global sustainability goals and the Government of Indias target to achieve 500 GW of renewable energy by 2030.
Key Highlights of the MoU include:
a. NVVN will explore opportunities to establish solar projects within CONCOR terminals. b. CONCOR commits to purchasing and consuming the solar power generated by the proposed Solar PV Project(s) on a long-term basis, with separate agreements to be executed for the same. c. CONCOR will provide or arrange rooftop/land/water bodies necessary for project setup to NVVN on a long-term lease, subject to mutually agreed terms before signing the Power Purchase Agreement (PPA). d. NVVN will oversee the project design, supply, execution, commissioning, and Operations & Maintenance (O&M) of the Solar PV project, proposing to set up the project through an Engineering Procurement and Construction Contract [EPC].
Mr. Sanjay Swarup, CMD CONCOR, highlighted that this MoU represents another step towards promoting green energy in the logistics sector, building on CONCORs earlier procurement of LNG trucks for road transportation.
Ms. Renu Narang, CEO NVVN, expressed optimism about the collaboration, anticipating that it will provide further momentum to develop solar-based solutions at CONCORs terminals on a pan-India basis. The cooperation aims to facilitate sustainable energy use in the country, with both companies anticipating a positive impact on the logistics and transportation sector, promoting a shift towards environmentally responsible practices. |
