NLC India Ltd. has announced it will be investing INR 75,000 crore by 2030 to ensure it achieves its expansion targets. The company is looking to diversify into the production of green hydrogen, ammonia, and coal-to-diesel projects. This decision comes as part of efforts by the firm to balance its green and conventional mining activities, while enhancing its thermal power generation capacity. The overall goal is to increase NLC India’s renewable capacity from its current capacity of 1,421 MW to 6,000 MW by 2030.
According to Prasannakumar Motupalli, Chairman and Managing Director at NLC India, the company will construct a 300 MW solar power plant in the Barsingsar mines area in Rajasthan and has tendered a 50 MW solar plant in the mined reclaimed area in Neyveli, Tamil Nadu. The plant development is aimed towards capacity expansion to fulfill their increasing electricity demand.
This move is a significant one for India’s renewable energy industry, which is fast becoming one of the world’s most vibrant industries. Initiatives like this by NLC India will not only generate more job opportunities for people, but it will also have the added benefit of uplifting the country’s economy by reducing its dependency on non-renewable energy sources. Additionally, the increased renewable capacity will lead to more sustainable forms of energy being utilised to bolster India’s future energy security.
This announcement comes as India’s coal consumption finally begins to dwindle after decades of dependence. NLC India’s green energy initiative is expected to be one of the country’s key drivers towards a cleaner, more resilient energy future. Although India still has a long way to go to achieve carbon neutrality, steps like these will put India on a greener track.
