NLC India jumps 4% on long-term power usage agreement with Telangana state

NLC India has signed a 25-year power usage agreement at Hyderabad with Telangana State DISCOMs for 200 MW of Solar Power at a competitive and affordable price under the CPSU scheme.

The company's solar project is set to generate around 1,300 crore units of green power and offset 90 lakh tons of Carbon emissions in its lifetime. The project will be developed with State-of-the-art equipment, including single-axis trackers and domestic high-efficiency modules aimed at achieving higher generation under Atma Nirbhar Bharat (Make in India). The project is set to be commissioned by June 2025.

This association offers the twin advantages of cheap green power and meeting the state's Renewable purchase obligation. The company has already been supplying more than 234 MW of affordable thermal power to the State for more than thirty years, and this association in Renewables marks the start of a long journey for both the State of Telangana and NLC India towards a sustainable future.

In the latest quarterly results, the company posted profit after tax of ₹566.69 Crore vs. ₹413.57 Crore in Q1 FY24, a growth of 37.02%.On the operational front, the EBITDA for the quarter stood at ₹1,444.38 Crore as against ₹1,305.80 Crore Q1 FY24, a growth of 10.61%. The total revenue for the quarter came in at ₹3,640.60 Crore vs ₹3,428.48 Crore Q1 FY24, a growth of 6.19%.

NLC India is engaged in the business of lignite mining and power generation.