Wire & Cable India

NLC India-Coal India JV to Invest in 3000 MW Solar Power Projects

Apart from solar power projects, Coal Lignite Urja will also get into thermal power generation.

March 24, 2021

NLC India
Solar Power Projects

Integrated lignite mining-cum-power generation company NLC India Ltd and Coal India Ltd have plans to get into 3,000 MW of solar power generation.

As reported in a leading daily, NLC India and Coal India have formed a joint venture company Coal Lignite Urja Vikash Private Ltd. The JV will be bidding for about 3,000 MW of solar power projects that will be tendered. The investment needed will be about Rs 125 billion – NLC Chairman-cum-Managing Director Rakesh Kumar.

Mr. Kumar further added that Coal Lignite Urja is a 50:50 joint venture company and NLC India has already invested Rs 1 lakh as its share of equity. “As per plans the debt-equity ratio will be 70:30.

According to Mr. Kumar, teams have started working and board meetings of the joint venture company are being held.

Also Read: India’s Biggest Floating Solar Power Plant Coming Up in Telangana.

Kumar also said the company has received an insurance claim for the loss sustained due to fire at its power plant last year. Employment has been provided to the kin of the workers who had died in that accident and the injured have been rehabilitated.