State-owned NLC India Ltd has announced the establishment of its subsidiary, NLC India Renewables Ltd (NIRL), to oversee its existing renewable energy projects. On June 14, 2023, NIRL was incorporated as a wholly-owned subsidiary, according to a statement by NLC India. The newly formed company will assume responsibility for NLC India’s current renewable energy projects and assets.
NIRL’s primary objective is to promote renewable energy ventures both in India and internationally. Additionally, the company aims to develop power generation systems utilizing various non-conventional and renewable energy sources, including wind, hydro, solar, tidal, geothermal, biomass, steam, wave, waste, hybrid, and other forms.
Headquartered in Chennai, NIRL will initiate its business operations in the near future. NLC India Ltd, operating under the Ministry of Coal, is actively engaged in lignite and coal mining, as well as power generation.
In summary, NLC India Ltd’s subsidiary, NLC India Renewables Ltd (NIRL), has been established to oversee and further develop the company’s existing renewable energy projects and assets. NIRL aims to drive renewable energy growth and explore diverse sources of power generation for a sustainable future.