New Delhi [India], October 24 : NLC India Ltd entered into agreement for formation of two significant joint ventures with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL), the company said in a release.
First JV between NLC India Renewables Limited (NIRL) and RRVUNL to establish Renewable Energy projects in the state of Rajasthan and second JV between NLCIL and RRVUNL for the development of a Lignite-Based Thermal Power Station.
"These JVs mark a significant step towards advancing sustainable energy and power generation," the company said in a statement.
In September this year, NLC India Limited aimed to quadruple existing energy capacity of 1.4 GW, targeting 10 GW by 2030.
NLC India Ltd. marks its 10th anniversary of renewable energy generation (REG) in September. The company's significant renewable energy projects are underway in Neyveli, Barsingsar (Rajasthan), Gujarat, and Assam.
On August 28, 2024, NLCIL signed a 25-year power usage agreement with Telangana state DISCOMs for 200 MW of solar energy at a competitive price under the central public sector undertaking (CPSU) scheme.
NLCIL's corporate strategy aims for a renewable energy capacity of 10,000 MW by 2030. To support this goal, the company has established new subsidiariesNLC India Renewables Ltd (NIRL) to enhance renewable energy projects through asset monetization, and NLC India Green Energy Ltd (NIGEL) to advance clean energy initiatives.
NLCIL has been proactive in tackling challenges by exploring various renewable energy projects, including solar and wind power, energy storage systems, green hydrogen, pumped storage hydro projects, converting lignite to methanol, repurposing mine overburden into sand, and critical mineral exploration for sustainability.
NLCIL's membership in the International Solar Alliance (ISA) underscores its commitment to environmental sustainability within the coal sector.
Responding to the Prime Minister's 2015 call for a transition to renewable energy as the nation moved from "Megawatts to Gigawatts," NLC India Limited demonstrated its commitment by becoming the first Central Public Sector Enterprise (CPSE) in India to achieve 1 GW of renewable energy generation.
Originally focused on lignite-based power generation, NLCIL has expanded into renewable energy, now operating 1,380 MW of solar power plants and 51 MW of wind power plants.
This initiative has produced 1,234 crore units of green energy, effectively preventing 1 crore tonnes of carbon dioxide emissions and providing affordable, sustainable power to millions, thereby enhancing air quality.
NLC India Limited is dedicated to continuing this journey, contributing to the target set by the Prime Minister of achieving net-zero emissions by 2070, and transitioning from lignite to renewable energy sources for a more aspirational nation.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor