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NLC India plans ₹24,000 crore solar investment by 2030: CMD
Mint Mumbai
|July 01, 2023
After the recent incorporation of its green energy arm, NLC India Renewables Ltd, the company is exploring the option of setting up a step-down subsidiary
State-run NLC India Ltd plans to set up a step-down subsidiary to operate its new-age renewable energy businesses, including battery storage. In an interview, Prasanna Kumar Motupalli, chairman and managing director of the company, said that after the recent incorporation of its green energy arm, NLC India Renewables Ltd, the company is exploring the option of setting up a step-down subsidiary, for which the public sector major would look at bringing private investments or getting it listed. He said the company would invest more than ₹24,000 crore in its solar power projects till 2030 to diversify operations. So far, the company has an installed solar capacity of 1.42 gigawatts (GW) with a capex of ₹6,000 crore. Edited excerpts:
As the country moves towards net zero, what is NLC’s roadmap for energy transition?
This story is from the July 01, 2023 edition of Mint Mumbai.
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