NLC establishes green energy joint venture with Assam Discom

16 Mar 2023 CW Team

NLC India Ltd (formerly Neyveli Lignite Corp. Ltd) intends to invest Rs 10 billion ($125 million) in a green energy joint venture it is forming with Assam Power Development Co. Ltd. (APDCL).

The investment proposal has already been submitted to the Union government, with the JV establishing a 1 gigatonne (GW) initial solar power capacity in Assam for around 5,500 crore. These solar power projects are expected to cost Rs 55 million per megawatt (MW) and will be constructed in India in stages, with 200 MW added each year.

NLC will fund this equity with internal accruals. Last year, NLC signed an MoU with APDCL that included plans for green energy projects, including hydropower projects.

Attracted by India's green energy trajectory, traditional state-run miners are finalising clean energy plans, such as Coal India Ltd (CIL), which plans to invest around Rs 150 billion in solar power generation capacity by 2024.

India has 167 GW of installed renewable energy capacity, with the country's electricity demand increasing from current per capita electricity consumption levels of around 1255 kilowatt-hours (kWh). India's electricity demand is expected to rise by 9.5% in the current fiscal year, with peak electricity demand rising by 6.82%.

India met an all-time high electricity demand of 211.6 GW in June 2022, with 225 GW expected during the upcoming summer season. To expand, NLC has formed Neyveli Uttar Pradesh Power Ltd (NUPPL), NLC TamilNadu Power Ltd (NTPL), MNH Shakti Ltd, and Coal Lignite Urja Vikas Pvt. Ltd. (CLUVPL).

NLC currently has 1.421 GW of clean energy capacity and 660 MW in the pipeline.

Real Estate

26 Jun 2026

AGM Vijaylaxmi launches Sixty3 W.E. Bizpark

AGM Vijaylaxmi Group has launched Sixty3 W.E. Bizpark, a mixed-use commercial development in Goregaon East, Mumbai. The project includes contemporary office spaces and a high-street retail component designed to support businesses, retailers and professionals.Located along the Western Express Highway, Sixty3 W.E. Bizpark is planned as a G+25-storey commercial tower. It offers office spaces ranging from 545 sq ft to 3,200 sq ft, with a 3.60 metre floor-to-floor height aimed at improving spatial comfort, natural light and operational efficiency.The project features a high-street retail boulevard ..

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..