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Cabinet approves ₹7,000 crore NLCIL investment in renewables push
This includes a waiver from seeking prior approvals for investments made through its subsidiaries or joint ventures, as well as an exemption from the 30 per cent net worth cap set by the Department of Public Enterprises, the Ministry of Coal said in a statement. The relaxed norms are expected to give NLCIL greater operational and financial flexibility to scale up its renewable energy portfolio.
NLCIL has laid out plans to scale its renewable capacity to over 10 gigawatts (GW) by 2030 and 32 GW by 2047. The move comes as part of India's larger decarbonisation push, which includes a target of building 500 GW of non-fossil fuel capacity by 2030 and a long-term commitment to achieve Net Zero emissions by 2070.
The company currently operates seven renewable projects with a combined capacity of 2 GW. These assets will now be transferred to NIRL, which is set to become NLCIL's central platform for clean energy expansion. The subsidiary is expected to actively participate in competitive bidding for new renewable projects.
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