NLC India Strives for 6 GW Renewables Capacity at Decade-End

Highlights :

  • NLC India wants to increase it renewable energy capacity to 6.03 GW by 2030.
  • The company estimates the total capital expenditure for the planned renewable energy projects to be at Rs 23,403 crore or around $2.86 billion.

India’s public sector is bullish on the renewable energy segment; all credit to government efforts and the deep pockets of the enterprises. In a fresh development, NLC India Ltd – a state-owned enterprise formerly called Neyveli Lignite Corporation – is now looking to swell up its renewable energy generation capacity to more than 6 GW by the end of this decade.

According to reports, NLC India wants to increase its renewable energy capacity to 6.03 GW by 2030. At present, the government company has more than 1.4 GW of renewable energy assets being developed. NLC India is implementing various solar energy and wind energy projects.

In The Pipeline

Reports hold that the company estimates the total capital expenditure for the planned renewable energy projects to be at Rs 23,403 crore or around $2.86 billion. In this line, NLC India wants to develop a 150 MW of wind-solar hybrid pan India project that it had won at a Rs 2.34/kWh tariff in an auction held by the Solar Energy Corporation of India (SECI). with regards to this hybrid project, NLC is said to have already received a letter of award. NLC India, reports hold, will be floating the domestic competitive bidding for the development of these solar-wind projects.

NLC India has has also won a 510 MW renewable energy capacity in the CPSU Scheme of IREDA.

The Central PSU has currently a 1,421 MW of renewable energy capacity. This RE capacity includes 1,370 MW of solar power and the remaining 51 MW is wind energy. NLC India has made a total investment of about Rs 6,594 crore in these projects that includes equity deployment of Rs 1,675 crore.

NLC India had recently said that Tamil Nadu Generation and Distribution Company (Tangedco) had left out Rs 700 crore in outstanding dues to it for the renewable energy bills. On the other hand, Tangedco said that since the renewable energy bill matter is in dispute before the Appellate Tribunal for Electricity, it was excluded.

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