Delhi, 16 July (H.S.): The Cabinet Committee on Economic Affairs has granted NLC India Limited (NLCIL) a special exemption from investment guidelines for Navratna CPSEs, allowing it to invest Rs. 7,000 Crore in its subsidiary, NLC India Renewables Limited (NIRL). This enables NIRL to invest in projects directly or through Joint Ventures without prior approval and is exempt from the 30% net worth ceiling for CPSEs.
The exemptions aim to help NLCIL achieve its target of developing 10.11 GW of Renewable Energy capacity by 2030 and 32 GW by 2047, aligning with India’s COP26 commitments for a low-carbon economy and the “Panchamrit” goal of 500 GW non-fossil fuel capacity by 2030, as well as the goal of Net Zero emissions by 2070.
Currently, NLCIL manages seven operational or nearly operational renewable energy assets with 2 GW capacity, set to be transferred to NIRL. This investment is intended to enhance India’s leadership in green energy, reduce fossil fuel dependency, and improve the reliability of power supply.
Furthermore, it is expected to create substantial employment opportunities during construction and operation, benefiting local communities and fostering inclusive economic growth.
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Hindusthan Samachar / Jun Sarkar
