NVVN and Container Corporation of India Ltd. (CONCOR), have entered into a Memorandum of Understanding (MoU) to collaborate on the development of solar projects in CONCOR terminals.

CONCOR is an Indian public sector undertaking which is engaged in transportation and handling of containers.

The objective of this partnership is to promote sustainable and eco-friendly renewable solar energy. The MoU was signed on 7th December 2023, in the presence of Mr. Sanjay Swarup, CMD CONCOR, and Ms. Renu Narang, CEO NVVN.

Under the MoU, NVVN will explore setting up solar projects in CONCOR terminals. CONCOR has agreed to purchase and consume the solar power generated by these projects on a long-term basis.

The necessary infrastructure, such as rooftops, land, and water bodies, will be provided by CONCOR to NVVN on a long-term lease basis. NVVN will be responsible for the design, supply, execution, commissioning, and operation and maintenance of the solar projects.

This collaboration highlights the commitment of both organizations to reduce carbon emissions and promote renewable power generation, aligning with global sustainability goals and the Indian government's target of achieving 500 GW of renewable energy by 2030. This MoU is a significant step towards promoting green energy in the logistics sector.