NLC launches new subsidiary for renewable energy business

NLC India Limited (NLCIL), a navratna central public sector enterprise, has establishing a wholly-owned subsidiary, NLC India Green Energy Limited (NIGEL). This strategic decision emphasises NLC India’s dedication to expanding its footprint in the renewable energy industry.

NIGEL has intentions to execute renewable energy ventures amounting to a significant 2 GW. These ventures include a 600 MW solar power project in Gujarat and an 810 MW solar photovoltaic power project in Rajasthan.

Furthermore, NIGEL will assume crucial responsibilities, including strategic planning, participation in forthcoming renewable energy bids, project implementation, and the commissioning of renewable energy projects. The subsidiary aims to reach a 5 GW capacity by the year 2030. This dedication is in line with worldwide initiatives to decrease carbon emissions and tackle the increasing demand for sustainable energy resources. NIGEL is headquartered in Chennai and it will soon initiate its operations.

Recently, in October 2023, NLCIL bagged an 810 MW solar power project from Rajasthan Rajya Vidyut Utpadan Nigam at a rate of Rs 2.64 per kWh.

In September 2023, NLCIL issued a request for proposal for the balance of system package for 600 MW grid-connected solar projects at Khavda, Gujarat.