NLC India Signs Green Power Deal for 200 MW Supply

30 Aug, 2024

NLC India Signs Green Power Deal for 200 MW Supply

NLC India shares surged 4.27% to an intraday high of Rs 287.95 on August 29, 2024, following the announcement of a new power usage agreement. The state-owned coal mining company has secured a deal to supply 200 MW of green power to Telangana, marking a significant move in its renewable energy strategy.

According to the company's exchange filing, NLC India, a Navratna Government of India Enterprise, has signed a Power Usage Agreement with Telangana State DISCOMs for 200 MW of solar power under the CPSU scheme. This agreement, set for 25 years, positions NLC India as a key player in India's solar energy sector.

The new solar project is expected to generate approximately 1,300 crore units of green energy and reduce carbon emissions by 90 lakh tonnes over its lifespan. Utilizing advanced technology such as single-axis trackers and high-efficiency domestic modules, the project aligns with the Atma Nirbhar Bharat initiative and is scheduled for commissioning by June 2025.

NLC India has a long history in the energy sector, established in 1956 as Neyveli Lignite Corporation Limited and publicly traded since 1986. The company operates lignite-based thermal power stations and has a renewable energy capacity of about 1,421.06 MW. At the latest update, NLC India shares were trading at Rs 277.05, with the BSE Sensex at 81,974.50.