NLC India to Triple Power Capacity by 2030 with Rs 500 Bn Investment

16 Sep 2024 CW Team

NLC India (NLCIL) has revealed its intention to triple its total power generation capacity by 2030, with a strong emphasis on renewable energy to fulfill India's climate commitments. The country aims to achieve 500 GW of non-fossil energy capacity by 2030, a goal that was underscored during the COP 26 summit.

To align with this goal, NLCIL plans to boost its renewable energy portfolio to 50% of its total planned capacity, increasing its renewable energy (RE) capacity from 1.43 GW to 10.11 GW. This transition will involve an investment of approximately Rs 500 billion, designed to support India’s broader renewable energy objectives and contribute to the target of 'Net Zero' emissions by 2070.

NLC India Green Energy (NIGEL), a wholly owned subsidiary of NLCIL, will spearhead the renewable energy expansion. NIGEL is currently developing 2 GW of renewable energy assets and intends to expand further through competitive bidding and new opportunities in the green energy sector. This initiative aims to decrease India's dependence on conventional energy sources, diversify its energy mix, and reduce coal imports.

Additionally, NLCIL plans to increase the proportion of renewable energy in its portfolio to 77% by 2047. Beyond 2030, the company anticipates no new additions of thermal power capacity, instead focusing on reducing emissions from existing thermal plants to achieve net-zero emissions by 2070.

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