NLC Inks Deal With Rajasthan Govt For 1125 MW Power Projects

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On Sunday, NLC India Ltd and the Rajasthan government signed an agreement to form a joint venture for setting up two power projects totaling 1125 megawatts worth Rs 7,000 crore investment, reported news agency PTI.

According to the report, 125 megawatt (MW) will be a lignite-based power plant another project will be a 1000 MW solar power plant. “The MoU between NLC India Limited and RVUNL (Rajasthan Urja Vikas Nigam Ltd) entails a staggering investment of more than Rs 7000 crore,” the Coal Ministry added.

After the agreement with Rajasthan Government, NLC India shares jumped 6.62 percent to Rs 232.65 today.

Recently in February, NLC India issued a tender inviting bids for the supply of central inverters for a 600 MW Solar Project in GSECL’s Solar Park at Khavda in Gujarat. The bids have been sought under a two-part system followed by reverse bidding. This 600 MW Solar Power Project will be developed by NLCIL through its wholly-owned subsidiary NLC India Green Energy Limited. The tender mentioned a brief scope of work manufacturing, supply, packing and forwarding, transportation which included transit insurance of central inverters and supervision during erection, installation, testing, and commissioning works.

NLCIL is a Navratna Government of India Enterprise, under the administrative control of the Ministry of Coal. Centre is also set to offload a 7% stake in state-run lignite producer NLC India Ltd. through the offer-for-sale (OFS) route, which includes a green shoe option of 2%. The OFS is expected to rake in approximately ₹2,058 crore, even if the 7% stake is offloaded at the floor price set for this sale.