In Short : Neyveli Lignite Corporation India Limited (NLCIL) has taken a significant step in its commitment to green energy by incorporating a subsidiary specifically focused on commissioning renewable energy projects. This strategic move aligns with India’s renewable energy goals and the company’s efforts to diversify its energy portfolio. By forming this subsidiary, NLCIL aims to accelerate its investments, enhance its capabilities, and contribute significantly to the country’s renewable energy capacity. The subsidiary will likely play a pivotal role in the development, implementation, and management of various green projects, including solar, wind, and other clean energy initiatives.
In Detail : NLC India Ltd on Monday said it has incorporated a wholly owned arm NLC India Green Energy Ltd (NIGEL) for commissioning of green projects.
NIGEL will take care of planning, participating in upcoming renewable energy tenders, execution and commissioning of green energy projects, NLC India Ltd (NLCIL) said in a statement.
The arm is likely to achieve 5 GW capacity by 2030 and contribute for carbon emission reduction, NLCIL Chairman and Managing Director Prasanna Kumar Motupalli said.
The navratna public sector undertaking has already incorporated a wholly owned arm NLC India Renewables Ltd for asset monetisation.
At present, 2 GW of renewable energy projects are under implementation and will be taken up by NIGEL, including 600 MW solar power project in Gujarat and 810 MW solar photovoltaic power project in Rajasthan.
The company’s registered office is in Chennai and will start business operations in due course, as per the statement.
