NLCIL incorporates wholly-owned arm NIGEL for commissioning green projects
NLC India Ltd on Monday said it has incorporated a wholly owned arm NLC India Green Energy Ltd (NIGEL) for commissioning of green projects.
The newly incorporated NIGEL is set to manage renewable energy projects amounting to 2 GW. This encompasses a 600 MW solar power project in Gujarat and an 810 MW Solar Photovoltaic Power Project in Rajasthan.
Prasanna Kumar Motupalli, Chairman and Managing Director, NLCIL, remarked, “The newly-incorporated company will take care of planning, participating in upcoming RE tenders, tendering, execution and commissioning of Renewable projects.”
He further added, “The subsidiary is expected to achieve 5 GW capacity by 2030 and contribute for carbon emission reduction.”
Notably, prior to this development, NLCIL had integrated a wholly-owned subsidiary, NLC India Renewables Limited, dedicated to asset monetisation.
The company’s registered office is in Chennai and will start business operations in due course, the company said.
