NLC India To Set Up

NLC India Ltd, a public sector mining and power production corporation, is planning to build a 1,000 MW solar power plant in Assam in collaboration with the state government.

NLC India has been in contact with the State government over the sale of electricity generated by the Ghatampur thermal power plant in Kanpur district, which is getting built by a joint venture of NLC India and the Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd.

During the meetings, the Assam government suggested that NLC India build a 1,000 MW solar power plant in the state as a joint venture with the Assam Power Distribution Company, controlled by the government of Assam.

Rakesh Kumar, Chairman and Managing Director of NLC India, said on Saturday that the company will own a 51 percent share in the solar joint venture. Assam will purchase the plant’s power at a rate that would yield a 12 percent return on equity.

“We are given to understand that Assam has examined the pros and cons of setting up solar plants in other regions of the country and decided that it would be better to set up the plant in Assam, despite the lower capacity utilization factor,” he added.

NLC India, a thermal power company, has lately expanded into renewable energy. It was the first public sector corporation to hold 1,000 MW of renewable energy capacity, predominantly solar, a few years ago. The firm now has 1,421 MW of renewable energy capacity, with 51 MW of wind and the remainder being solar.

Click Here for more updates

Resource: The Hindu Business Line

canadian ad fl