NLC India Limited (NLCIL), a leading Central Public Sector Enterprise, plans a three-fold increase in its total power generation capacity by 2030 to address the dual requirements of energy security and sustainability.
As per the information shared by the Ministry of Coal, the plan entails an investment of around Rs 50,000 cr in renewable portfolio, which will support India’s renewable energy (RE) target and contributes to the broader aim of achieving ‘Net Zero’ emissions by 2070.
This enhanced target aligns with the Government’s “Panchamrit” initiative announced at the COP 26 Summit as India’s contribution and commitment towards climate action, it added.
NLCIL aims to achieve a renewable energy portfolio mix of 50 per cent of its total planned capacity, increasing its RE capacity from 1.43 GW to 10.11 GW.
NIGEL (NLC India Green Energy Limited), a wholly owned subsidiary of NLCIL established with special focus on Renewable Energy Generation, is set to lead the company’s intended renewable energy portfolio.
Currently, 2 GW of renewable energy assets are under implementation, NIGEL aims to expand its portfolio by participating in competitive bidding and exploring emerging opportunities in the green energy sector.
This expansion will reduce India’s dependence on conventional energy sources, diversify energy generation, and lower coal import. Additionally, it will help ensure round the clock power supply across the country.
NLCIL envisages to increase the share of Renewable Energy from 50 per cent by 2030 to 77 per cent by 2047 in its energy generation portfolio, enabling the company to achieve Net Zero by 2070.
With a much changed energy landscape beyond 2030, NLCIL foresees no new thermal power capacity addition. Instead, Innovation in reducing the emissions from the existing thermal power stations will be the guiding action in the domain.
India is committed to a low-carbon emission path while pursuing its development goals, as pledged at COP 26. The nation aims to achieve 500 GW of non-fossil energy capacity by 2030.