National Mining Development Corporation (NMDC) is looking to set up solar power plants in the southern state of Telangana, according to its Chairman and Managing Director Sumit Deb.
The state-run mining company is keen to invest in renewable energy, Deb told PTI, without sharing details about the investment.
“Yes, we have plans. We are looking in Telangana where we have a sponge iron unit,” he said.
Deb said NMDC may also set up a solar power plant on the land available with its sponge iron unit, located at Paloncha in Telangana.
The unit, which has a daily capacity of 100 tonnes, is not operational now and NMDC has no immediate plans to resume its operations, Deb said.
NMDC, which mines around 17 per cent of the country’s annual iron ore output, has lately been trying to diversify its business.
It is setting up a 3 million-tonne-per-annum integrated steel plant in Nagarnar, Chhattisgarh, at an estimated investment of Rs 23,140 crore.
In October 2020, the Union Cabinet approved the demerger of the Nagarnar Steel Plant from NMDC, and the sale of the Centre’s entire stake to a strategic buyer.