NLCIL to invest ₹50,000 crore to ramp up renewable capacity

Lignite-to-power producer NLC India Ltd (NLCIL) will invest around Rs 50,000 crore to ramp up its renewable energy capacity from 1.43 GW to 10.11 GW.

NLC India Green Energy Limited (NIGEL), a wholly-owned subsidiary of NLCIL, is established with special focus on renewable energy generation, an official statement said on Friday.

"NLCIL aims to achieve a renewable energy (RE) portfolio mix of 50 percent of its total planned capacity, increasing its RE capacity from 1.43 GW to 10.11 GW.

"The above plan entails an investment of Rs 50,000 crore (approx) in a renewable portfolio, which will support India's RE target and contribute to the broader aim of achieving 'net zero' emissions by 2070," the statement said.

India is committed to a low-carbon emission path while pursuing its development goals, as pledged at COP 26.

NIGEL aims to expand its portfolio by participating in competitive bidding and exploring emerging opportunities in the green energy sector. Currently, 2 GW of renewable energy assets are under implementation.

This expansion will reduce the country's dependence on conventional energy sources, diversify energy generation, and lower coal imports.

Additionally, it will help ensure round-the-clock power supply across the country.