1.Investment in Renewable Energy: Nyeveli NLC plans to invest $3.4 billion to significantly expand renewable energy capacity by 394% to nearly 7GW. This investment aims to reduce the company's carbon footprint in alignment with India's 2070 net-zero target.
2.Significance of the Investment: This investment represents the largest green commitment by any state-run coal company in India.
3.Overall Investment Plan: The renewable energy investment constitutes about one-third of the company's broader $11 billion plan aimed at enhancing core mining and thermal generation capacities by 2030.
4.Formation of Subsidiaries: To facilitate renewable energy investments, NLC India has established subsidiaries. NLC India Green Energy will focus on future renewable energy investments, while NLC India Renewables will manage existing solar/wind projects and reinvest profits into new ventures.
#NLC #renewable energy #wind energy #solar energy