GOVERNMENT OF INDIA APPROVES ₹7,000 CRORE NLCIL’S INVESTMENT TO ACCELERATE RENEWABLE ENERGY GROWTH
New Delhi, July 17 NLC India Limited (NLCIL), a Navratna Central Public Sector Enterprise under the Ministry of Coal, has received a landmark approval from the Cabinet Committee on Economic Affairs (CCEA) chaired by the Hon’ble Prime Minister. The CCEA has granted an exemption from the existing investment guidelines of the Department of Public Enterprises (DPE), empowering NLCIL to invest ₹7,000 crore in its wholly owned renewable energy subsidiary, NLC India Renewables Limited (NIRL), and to enable NIRL to invest in projects independently or through Joint Ventures.
This significant decision exempts NLCIL and NIRL from the 30% net worth ceiling imposed on CPSEs for investment in subsidiaries and JVs, ensuring enhanced operational autonomy and financial agility. The move is poised to catalyse NLCIL’s growth in the renewable energy sector, aligning with India’s national energy transition agenda.
Currently, NLCIL operates a renewable energy portfolio of 1.4 GW. These assets will be transferred to NIRL to consolidate green energy initiatives under a unified platform.
With this strategic support from the Government of India, NLCIL plans to scale its renewable energy capacity from the current 1.4 GW to 10 GW by 2030, contributing significantly to India’s commitment of installing 500 GW of non-fossil fuel capacity by 2030, as declared at COP26 under the “Panchamrit” strategy. The long-term vision of NLCIL includes expanding this capacity to 32 GW by 2047, in alignment with the nation’s goal of achieving Net Zero emissions by 2070.
The approval is expected to:
- Help NLCIL Strengthen India’s global position in green energy leadership,
- Reduce India’s coal imports and carbon footprint,
- Ensure reliable 24×7 power supply through clean sources,
- Generate large-scale direct and indirect employment, and
- Promote inclusive socio-economic development in project regions.
CMD’s Statement:
Speaking on this milestone approval, Prasanna Kumar Motupalli, Chairman and Managing Director, NLC India Limited, said:“The visionary support extended by the Government of India through this exemption is a game-changer for NLCIL’s renewable energy roadmap. It reaffirms our commitment to building a sustainable future and scaling up green energy infrastructure. With this empowerment, we are well-positioned to invest in cutting-edge technologies and forge strategic collaborations that will help us realize our goal of achieving 10 GW renewable capacity by 2030 and 32 GW by 2047. We remain steadfast in contributing to India’s clean energy leadership.”
