NLC India Ltd Plans IPO for Renewable Energy Push

NLC India Ltd is planning an IPO for its subsidiary, NLC India Renewables Ltd, by the first quarter of the next financial year. The funds will support expansion in renewable energy to 6 GW by 2030. Additionally, a subsidiary focusing on green energy has been established, with a capital infusion of almost one lakh crore required for these initiatives.

NLC India Ltd (NLCIL) is gearing up for an initial public offering (IPO) of its subsidiary, NLC India Renewables Ltd, by the first quarter of the next financial year, according to Chairman and Managing Director Prasanna Kumar Motupalli.

In an exclusive interview with PTI, Motupalli revealed that the IPO aims to support the company's ambitious plans to scale up its renewable energy capacity from the current 1.4 GW to 6 GW by 2030. Additionally, the company will seek soft loans from foreign entities to further its clean energy agenda.

NLCIL is also awaiting government clearance to transfer existing assets to NLC India Renewables Ltd, with the CMD expecting approval by October. The PSU is increasing its total power capacity to 17 GW by 2030, balancing between thermal and renewable sources. With plans requiring a significant capital infusion, the state-owned Navratna company under the Ministry of Coal is poised for substantial growth.

(With inputs from agencies.)