CHENNAI:
The Union Cabinet has cleared a ₹7,000 crore capital infusion into NLC India Renewables Ltd (NIRL), the wholly owned subsidiary of state-run miner Neyveli Lignite Corporation (NLC), as the Navratna PSU undertakes a major reorganisation of its clean energy portfolio in pursuit of a 10 GW renewable energy target by 2030.
As part of the restructuring, NLC India Ltd (NLCIL) will transfer ₹6,263 crore worth of operational solar and wind assets to NIRL. An additional ₹700 crore will be invested in ongoing greenfield and brownfield projects currently under development.
NLCIL currently operates seven renewable energy projects across the country, with a cumulative capacity of 1,400 MW. The move will consolidate these assets under NIRL, a dedicated platform aimed at sharpening strategic focus, improving access to finance, and unlocking opportunities for future partnerships or equity dilution.
Officials said the transition marks a key step in NLC’s effort to diversify beyond lignite mining and thermal power, aligning with India’s broader ambition to install 500 GW of non-fossil fuel capacity by the end of the decade.
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