NLC India to take up green energy project with its new Subsidiary Company
New Delhi: NLC India Limited, a central public sector undertaking announced that it has incorporated its new wholly owned subsidiary named “NLC India Renewables Limited” on 14th June 2023.
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The new subsidiary will now onwards take over the existing renewable assets of NLC India Limited. The subsidiary was officially formed on June 14, 2023.
Essentially the company will acquire and manage the renewable projects for the parent company.
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Moreover, the company's stock on June 16 went up by 2 per cent after the company announced its new subsidiary. On May 8, 2023, in the company's board meeting, it is decided to establish NLC India Renewables Ltd.
NLC operates four opencast lignite mines of a total capacity of 30.6 million tonnes per annum (MTPA) at Neyveli and Barsingsar; Six lignite based pithead thermal power stations with an aggregate capacity of 3640 MW – at Neyveli and Barsingsar; and a 1000 MW coal based thermal power Station at Thoothukudi, Tamil Nadu through its subsidiary, NLC Tamil Nadu Power Limited (NTPL), a joint venture between NLC and TANGEDCO (equity participation in the ratio of 89:11). NLC recently commissioned a 1x500 MW unit at Neyveli which is also Asia's largest lignite fired boiler.
NLC has also forayed into renewable energy sector with commissioning of a 141 MW Solar Photo Voltaic Power Plant including 1 MW rooftop project at Neyveli and a 51 MW wind energy plant at Kazhuneerkulam village of Tirunelveli district in Tamil Nadu. The company is also setting up 1209 MW Solar Power Projects at Tirunelveli, Virudhunagar and Ramanathapuram districts of Tamil Nadu, of which, 300 MW have been commissioned. NLC is aiming to achieve a total renewable energy capacity of 4251 MW.
NLCIL has a target of becoming a 20,000+ MW company by 2025.
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