NLC India Ltd announced the establishment of its wholly-owned subsidiary, NLC India Green Energy Ltd (NIGEL), dedicated to the commissioning of green projects.
NIGEL will oversee the planning, participation in upcoming renewable energy tenders, as well as the execution and commissioning of green energy projects, according to a statement by NLC India Ltd (NLCIL).
The subsidiary aims to achieve a capacity of 5 GW by 2030, contributing significantly to carbon emission reduction, as stated by NLCIL Chairman and Managing Director Prasanna Kumar Motupalli.
The public sector undertaking, categorized as a "navratna," has previously set up another wholly-owned subsidiary, NLC India Renewables Ltd, focusing on asset monetisation.
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NIGEL will take charge of 2 GW of renewable energy projects currently under implementation, including a 600 MW solar power project in Gujarat and an 810 MW solar photovoltaic power project in Rajasthan.
The registered office of the company is located in Chennai, and it is expected to commence business operations in due course, according to the statement.
