NLC India's Bold Move: Investing Rs 7,000 Crore in Renewable Energy Transformation

NLC India is set to invest Rs 7,000 crore in its renewable energy arm, NLC India Renewables Limited, to enhance the country's green energy capacity, aiming for 32 GW by 2047. This move aligns with India's COP26 commitments and is expected to boost employment and reduce fossil fuel dependence.

The government has paved the way for state-run NLC India to make a substantial investment of Rs 7,000 crore towards enhancing the nation's renewable energy capacity. The Cabinet Committee on Economic Affairs, led by Prime Minister Narendra Modi, granted a special exemption for this strategic move.

This decision allows NLC India to amplify its renewable capacity to 10.11 GW by 2030 and eventually reach 32 GW by 2047. Notably, the Cabinet has granted NLC India a special exemption from prevailing investment guidelines, increasing its operational and financial flexibility.

Aligned with India's COP26 commitments, this initiative aims to reduce fossil fuel dependency, stimulate employment, and aid the country's transition to a sustainable energy future. As a major player in coal and lignite, NLC India is now leading the charge towards a green and sustainable future.

(With inputs from agencies.)