NLC India Limited, a ‘Navratna’ – Government of India Enterprise (formerly Nyeveli Lignite Corporation) runs a state lignite/ coal company making remarkable growth towards renewable energy in India and aims to undergo a significant transformation in this field by 2030. Apart from coal and ignite, we want to become an integrated energy company with the presence of solar, wind, green energy, energy storage etc. To boost the renewable energy capacity, we are investing $3.4 billion (340 crores)(reaching nearly 7GW (gigawatts). This move aligns with India’s 2070 net-zero target. It aims to reduce the company’s carbon footprint, said chairman and managing director Prasanna Kumar Motupalli.
In India, it’s one of the largest green investments ever done by any state-run coal/ignite company. It represents a third of their total $11 billion(1100 crores) and, they plan to increase the core mining and thermal generation capacity, currently a capacity of 32.5 MTPA and will boost to 102.5 MTPA(million tonnes per annum ) by 2030. Prasanna Kumar Motupalli also stated that they have been setting up two approaches to boost the renewable energy capacity in India. They want to monetize their capacity of 1.4 GW RE under the government asset monetization scheme. Therefore a newly formed subsidiary, NLC Green Energy will be the vehicle for the future of renewable energy investment. The assets are almost 8000 crores. Moreover, NLC has been established to monitor the existing Solar and wind farms. The proceeds from this monetization would be reinvested in the new renewable energy project.
