NLC India Limited, a prominent Navratna Central Public Sector Undertaking with its headquarters in Neyveli, Tamil Nadu, has marked a significant development with the incorporation of a wholly-owned subsidiary, “NLC India Green Energy Limited” (NIGEL). This strategic move underscores NLC India’s commitment to expanding its presence in the renewable energy sector.
NIGEL has already set an ambitious course, with plans for implementing renewable energy projects totaling a substantial 2 GW. These projects include a 600 MW solar power initiative in Gujarat and an 810 MW Solar Photovoltaic Power Project in Rajasthan. The creation of NIGEL follows NLC India’s establishment of another wholly-owned subsidiary, “NLC India Renewables Limited,” which was primarily aimed at asset monetization.
Shri. Prasanna Kumar Motupalli, the Chairman and Managing Director of NLC India Limited, highlighted the significance of NIGEL, stating that the newly-formed company would take on essential roles such as planning, participating in upcoming renewable energy tenders, tendering, executing, and commissioning renewable projects.
He also emphasized NIGEL’s long-term vision, with expectations of achieving a substantial 5 GW capacity by the year 2030. This commitment aligns with global efforts to reduce carbon emissions and addresses the growing need for sustainable energy sources.
NIGEL has its registered office in Chennai and is poised to commence its business operations in due course. With NLC India’s strong track record and dedication to the green energy sector, NIGEL’s establishment is a positive step towards a greener and more sustainable energy future.
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