NLC India rises 4% on ₹25,000 crore renewable energy pact with Gujarat

NLC India shares rose 4 per cent on BSE, logging an intra-day high at ₹265.5 per share. The buying on the counter came after the company signed a Memorandum of Understanding (MoU) with the Government of Gujarat during the Vibrant Gujarat Regional Conference for the Saurashtra and Kutch Region.

 

At 10:25 AM, NLC India's share price was trading 2.92 per cent higher at ₹262.65 on the BSE. In comparison, the Sensex was up 0.28 per cent at 83,395.71. The stock commands a market capitalisation of ₹36,399.21 crore, with its 52-week high at ₹292.35 per share and 52-week low at ₹185.85.

 

 

NLC India Limited has signed a non-binding MoU with the Government of Gujarat to develop large-scale renewable energy projects across the state. The agreement envisions an aggregate investment potential of approximately ₹25,000 crore and is expected to generate significant employment opportunities.

 

The non-binding MoU focuses on setting up solar, wind, hybrid, and battery energy storage systems across the state. These projects are expected to create substantial employment opportunities while significantly boosting Gujarat's renewable energy capacity.

 

The initiative will be executed through NLC India Renewables Limited (NIRL), the company’s dedicated green energy subsidiary. This collaboration is a key part of NLC India’s long-term corporate strategy to achieve 10 GW of renewable energy capacity by 2030. By expanding its green footprint, the company aims to strengthen India’s energy security and contribute to the national goal of achieving Net Zero emissions.

 

Under the terms of the agreement, the Government of Gujarat will provide necessary support by facilitating statutory approvals, clearances, and registrations in a time-bound manner. This facilitation is intended to ensure the smooth and efficient implementation of the proposed projects. The partnership not only reinforces Gujarat’s position as a leading renewable energy hub but also underscores NLC India’s commitment to sustainable development and decarbonisation.

 

NLC India is a Navratna public sector enterprise under the Ministry of Coal, primarily engaged in lignite mining and power generation. Headquartered in Neyveli, the company has established itself as a pioneer in the "brown coal" sector, consistently setting new benchmarks in production and power output year after year.

 

In response to evolving global energy trends, NLC India has diversified its operations beyond lignite into coal mining and renewable energy, both within India and internationally. The company has integrated environmental protection and sustainable development into its core corporate objectives since its inception.