NVVN and CONCOR ink MoU to propel solar energy in Indian logistics

In a landmark initiative to promote sustainable and eco-friendly renewable solar energy, Container Corporation of India Limited (CONCOR) and NTPC VIDYUT VYAPAR NIGAM LIMITED (NVVN) have signed a Memorandum of Understanding (MoU) to explore the development of PV Solar renewable energy projects in CONCOR terminals. The MoU, signed on December 7th, 2023, marks a significant step towards reducing carbon emissions and promoting renewable power generation in India.

Partnership for Sustainable Energy

The agreement, signed by Sanjay Swarup, CMD of CONCOR, and Renu Narang, CEO of NVVN, signifies the commitment of both organizations to eco-friendly energy initiatives. This partnership aligns with the Government of India’s commitment to achieving a 500 GW renewable energy target by 2030.

Key Highlights of the MoU

• NVVN will explore possibilities of setting up solar projects in CONCOR terminals.
• CONCOR agrees to purchase and consume the Solar Power generated by these projects on a long-term basis.
• The proposed Solar PV Project(s) will involve NVVN and CONCOR entering into separate agreements.
• NVVN will be responsible for project design, execution, commissioning, and O&M of the Solar PV project, planning to set up the Project through EPC contracts.

Strategic Development in the Logistics Sector

Sanjay Swarup highlighted that this MoU is a step towards promoting green energy in the logistics sector, complementing CONCOR’s previous initiatives like procuring LNG trucks for road transportation. Ms. Renu Narang expressed optimism that this cooperation will boost solar-based solutions across India in CONCOR’s terminals, promoting sustainable energy use.

Positive Impact on Logistics and Transportation

This collaboration between NVVN and CONCOR is expected to foster a paradigm shift towards sustainable practices in the logistics sector. Both companies anticipate a significant positive impact from this initiative, enhancing the environmental sustainability of logistics operations.

Conclusion

The NVVN and CONCOR partnership to develop solar projects in CONCOR terminals represents an important advancement in sustainable energy practices within the logistics and transportation sector. It is a key step in India’s journey towards achieving its ambitious renewable energy targets and transforming the logistics sector with eco-friendly solutions.