New Delhi: Neyveli Lignite Corporation of India (NLCIL) is aiming to achieve a Renewable Energy (RE) portfolio of 50 percent of its total planned capacity by 2030 and will spend Rs 50,000 crore on the expansion, a corporate plan for 2030 shows. NLC India will expand its renewable energy capacity from the present 1.43 GW to 10.11 GW by 2030 and does not foresee any new thermal capacity addition post 2030. The company is planning to achieve net zero emissions in tandem with India’s national committment in 2070. The PSU said that it is also planning a three-fold increase in its power generation capacity by 2030 in order to meet the dual requirements of energy security and sustainability.
“With the guidance of Union Minister of Coal and Mines, Shri G. Kishan Reddy, the nation has made significant strides towards a sustainable and low-carbon future. 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. As a leading and responsible Central Public Sector Enterprise, NLC India Limited (NLCIL) plans three-fold increase in its total power generation capacity by 2030 to address the dual requirements of energy security and sustainability. NLCIL aims to achieve a renewable energy (RE) portfolio mix of 50 percent of its total planned capacity, increasing its RE capacity from 1.43 GW to 10.11 GW,” said the company in a statement on Friday.
“The above plan entails an investment of Rs 50,000 crore (approximately) in Renewable portfolio, which will support India’s RE target and will contribute 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,” NLC added.
NIGEL (NLC India Green Energy Limited), a wholly owned subsidiary of NLCIL, established with a 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,” said NLCIL.
NLCIL envisages to increase the share of Renewable Energy from 50 percent in 2030 to 77 percent in 2047 in its energy generation portfolio, enabling the company to achieve Net Zero by 2070, says the company’s vision document for 2047. “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,” said NLCIL.
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