NLC India Ltd to Invest Rs 50,000 Crore for Renewable Energy Expansion

NLC India Ltd (NLCIL) plans to invest Rs 50,000 crore in increasing its renewable energy capacity from 1.43 GW to 10.11 GW. This move aims to support India's goal of achieving 'net zero' emissions by 2070. The initiative is part of NLCIL's broader strategy to diversify energy generation and reduce coal dependence.

NLC India Ltd (NLCIL) has announced an ambitious plan to invest around Rs 50,000 crore to significantly boost its renewable energy capacity from the current 1.43 GW to 10.11 GW.

NLC India Green Energy Limited (NIGEL), a wholly-owned subsidiary focused solely on renewable energy, will spearhead this expansion, as detailed in an official statement released on Friday.

The investment aims to help India achieve its climate commitments made at COP 26, including a major step towards 'net zero' emissions by 2070. NLCIL envisages a significant transformation in its energy portfolio, aiming to increase its renewable energy share to 77% by 2047, with no new thermal power capacity post-2030.

(With inputs from agencies.)