Container Corporation of India Limited (CONCOR) has signed a Memorandum of Understanding (MoU) with NTPC Vidyut Vyapar Nigam Limited (NVVN) to develop solar projects in CONCOR terminals.
More Details:
Container Corporation of India Limited (CONCOR) with an aim to promote sustainable and eco-friendly renewable solar energy, have signed a Memorandum of Understanding (MoU) with NTPC Vidyut Vyapar Nigam Limited (NVVN) to explore the possibility of setting up PV Solar renewable energy projects in CONCOR terminals.
The MoU, signed in the presence of Mr. Sanjay Swarup, CMD CONCOR and Ms. Renu Narang, CEO NVVN, signifies the commitment of both NVVN and CONCOR to reduce carbon emissions and to promote renewable power generation, contributing to a cleaner environment and aligning with global sustainability goals. This is in alignment with Govt. of India’s commitment to achieve 500 GW renewable energy target by 2030.
Key Highlights of the MoU:
- NVVN will explore the possibilities of setting up solar projects in CONCOR terminals.
- CONCOR agrees to purchase & consume the Solar Power generated by the proposed Solar PV Project(s) on a long term basis. NVVN and CONCOR shall enter into separate Agreements for the same.
- CONCOR shall provide/arrange rooftop / land/ water bodies required for setting up the projects to NVVN on long-term lease on mutually agreed terms before signing of Power Purchase Agreement (PPA) to be executed separately, as required in this regard.
- NVVN will be responsible for project design, supply, execution, commissioning, and O&M of the Solar PV project. NVVN proposes to set up the Project through Engineering Procurement and Construction Contract [EPC].
Both companies are optimistic about the positive impact this collaboration will have in the logistics and transportation sector, fostering a paradigm shift towards sustainable practices in the logistics sector.
Mr. Sanjay Swarup, CMD CONCOR mentioned that this MoU is yet another step in the direction of promoting green energy in the logistics sector as earlier CONCOR had procured LNG trucks for road transportation.
Ms. Renu Narang, CEO NVVN expressed her optimism that this cooperation between the two PSUs will provide further impetus to develop solar based solutions on pan India basis at CONCOR’s terminals that will facilitate in promoting sustainable energy use in the country.
Source: CONCOR- Press Release | Images Credit: CONCOR
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