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NLC India gets nod for JVs with RVUNL for RE sectors

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NLC India’s (NLCIL) Board of Directors has approved two significant joint ventures to expand its footprint in both thermal and renewable energy sectors.

The first joint venture will be with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) to establish a lignite-based thermal power station in Rajasthan. This venture will also include the development of associated lignite mines to ensure a steady fuel supply for the power plant.

In addition, NLCIL has received preliminary approval to create a joint venture company (JVC) with RVUNL through its wholly-owned subsidiary, NLC India Renewables. This new JVC aims to develop renewable energy projects with a total capacity of up to 2,000 MW, pending approval from the central government and other relevant authorities.

The joint ventures will have NLCIL holding a 74 per cent stake, while RVUNL will own the remaining 26 per cent. The initial paid-up capital for the JVC will be Rs 500,000.

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