NLC India Ltd (NLCIL), a Navaratna Central Public Sector Enterprise (CPSE) under the Ministry of Coal, has now incorporated a wholly-owned subsidiary, called NLC India Green Energy Limited (NIGEL).
According to Prasanna Kumar Motupalli, chairman-cum-managing director of NLCIL, “The newly incorporated company will take care of planning, participating in upcoming renewable energy tenders, as well as tendering, execution and commission of renewable energy projects. The subsidiary is expected to achieve 5 GW capacity by 2030 and contribute towards carbon emission reduction.”
Currently, projects to the tune of 2 GW of renewable energy are under implementation, and these projects will be taken up by NIGEL. This includes a 600 MW solar power project in Gujarat and an 810 MW solar photovoltaic power project in Rajasthan. NILCIL has already incorporated another wholly-owned subsidiary, NLC India Renewables Limited, for asset monetisation.
NIGEL’s registered office is in Chennai, and it will commence its business operations in due course.
