NLC India’s arm wins SECI renewable plus storage project

NLC India Limited has informed the stock exchanges that its wholly owned subsidiary, NLC India Renewables Limited (NIRL), has received a Letter of Award from the Solar Energy Corporation of India Limited (SECI).

The award is for setting up 600 MW of renewable energy capacity along with 300 MW or 1,800 MWh of Energy Storage Systems (ESS). The project forms part of a larger SECI tender for 1,200 MW of renewable capacity coupled with 600 MW or 3,600 MWh of ESS.

Under the award, NIRL will execute a domestic power generation and supply contract with a power supply period of 25 years through a Power Purchase Agreement (PPA). The Scheduled Commencement of Supply Date for the full project capacity is 24 months from the effective date of the PPA.

NLC India stated that the award does not constitute a related party transaction.

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