The Union Government has cleared a ₹7,000-crore investment by NLC India Ltd (NLCIL) into its renewable energy subsidiary, NLC India Renewables Ltd (NIRL), marking a major push toward India’s clean energy goals. The move reinforces the Centre’s focus on scaling up green infrastructure and curbing dependence on fossil fuels.
The Centre has cleared a ₹7,000-crore investment by NLC India Ltd (NLCIL) in its green energy subsidiary, NLC India Renewables Ltd (NIRL).
The ruling removes the 30% net worth restriction on NLCIL and NIRL’s investments in subsidiaries and joint ventures, increasing their independence and financial flexibility.It aims to accelerate NLCIL’s growth in renewable energy, supporting India’s sustainable energy goals.
NLCIL’s 1.4 GW clean energy portfolio will move to NIRL to consolidate its renewable initiatives. NLCIL aims to grow its renewable capacity from 1.4 GW to 10 GW by 2030, supporting India’s COP26 “Panchamrit” goal of 500 GW non-fossil fuel capacity. The organisation aims to boost its capacity to 32 GW by 2047, aligning with India’s Net Zero emissions goal for 2070.
The organisation said the clearance will enhance India’s green energy role, reduce coal imports and carbon emissions, provide steady clean power, generate employment, and foster socio-economic development in project regions.
NLCIL Chairman Prasanna Kumar Motupalli described the government’s exemption as a “landmark move,” allowing the company to fast-track its renewable energy initiatives via cutting-edge technology and strategic alliances.
