NLC India eyes $595.7m RE investment to triple power capacity

It aims to achieve this by 2030.

NLC India Limited (NLCIL) aims to triple its power generation capacity by 2030. To achieve this, the company will invest $595.7m (INR50,000 crore) in renewable energy, expanding its clean energy capacity from 1.43 gigawatts (GW) to 10.11 GW in six years.

In a statement, the company said this expansion will allow it to achieve a renewable energy portfolio mix of 50% of NLCIL’s total planned capacity. This will also help reduce India's dependence on conventional energy sources, diversify energy generation, and lower coal import.

NLCIL unit NLC India Green Energy Limited will lead the expansion through competitive bidding participation and exploring emerging opportunities in the green energy sector. 

NLCIL said it currently has two gigawatts of renewable energy assets under implementation.

After its 2030 target, the company eyes a renewable energy share of 77% in 2047, achieving net-zero emissions by 2070.

“With a much changed energy landscape beyond 2030, NLCIL foresees no new thermal power capacity addition. Instead, innovation in reducing the emissions from the existing thermal power stations will be the guiding action in the domain,” it said.

$1 = INR83.89