State-owned mining and power generation company, NLC India, is planning to invest over ₹24,000 crores in solar energy projects till 2030. The company is targeting a 6 GW + solar capacity, says Mr. Prasanna Kumar Motupalli, Chairman and Managing Director. Previously, the company announced a total investment of ₹75,000 crores in green energy projects by 2030.
As of now, the company has invested over ₹6000 crores in the solar sector and established a portfolio of 1.42 GW renewable energy capacity. NLC has been awarded a 300 MW solar project in Rajasthan.
NLC is also developing 50 MW solar installations in mine-reclaimed land at Neyveli, Tamil Nadu. These projects can be scaled up and accommodate up to 2 GW capacity. Mine-reclaimed lands refer to areas that were previously utilized for mining and are now being repurposed.
Mr. Kumar has said that NLC India has a pilot floating solar project that the company wishes to expand up to 100 MW.
The firm recently incorporated its green energy arm, NLC India Renewables Ltd. Moreover, NLC India is planning to develop another step-down subsidiary for the projects. NLC has also set up a joint venture company with Assam Power Development Co. Ltd. for green projects. The company is currently building a 1 GW solar plant in the state.
Apart from solar, the company is exploring green hydrogen, wind, and battery storage projects.
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Resource: LiveMint
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