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NLC to invest Rs 500 crore in renewable energy

Plans to set up over 80 MW of wind and solar energy projects

BS Reporter  |  Chennai 

As part of its entry into green energy generation, lignite-based power producer Neyveli Lignite Corporation has lined up renewable energy projects worth Rs 500 crore to set up wind and solar energy projects of 80 Mw.

The company board has approved setting up a 25-Mw solar power project at Neyveli in Tamil Nadu.

Of the 25 Mw, 10 Mw would be installed in about 54 acres in phase-one and another 15 Mw on expansion during phase-two, said the navratna company.

The contract for setting up the 10-Mw solar power project, at Rs 74.60 crore, has been awarded to Bharat Heavy Electricals Ltd (BHEL), Chennai. This includes operation & maintenance for three years after the warranty period. The project is scheduled to be completed within 9 months from the date of LOA.

A proposal to set up a solar power plant of 10 MW capacity at Barsingsar, Rajasthan at an estimated cost of Rs 92.83 crore is also under consideration, according to company's Annual Report 2013-14.

Neyveli has also obtained approval for setting up a 51 MW wind power project at Kazhuneerkulam, Tirunelveli district at an aggregate cost of Rs 347.14 crore.

The company said that both the renewable projects have been notified for prior consideration of CDM to United Nations Framework Convention on Climate Change (UNFCCC).

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First Published: Mon, September 01 2014. 23:36 IST