New Delhi: State-owned NLC India Ltd on Friday announced the incorporation of a subsidiary company to undertake its existing renewable energy projects. NLC India Renewables Ltd (NIRL) was incorporated as a wholly-owned subsidiary on June 14, said NLC India in a statement. NIRL will take over the existing renewable energy projects and assets owned by its parent company, it said.
Besides promoting the renewable energy business in India and abroad, the company will also develop power generation systems by non-conventional and renewable energy sources such as wind, hydro, solar, tidal, geothermal, biomass, steam, wave, waste, hybrid, or any other form. The new company has been registered in Chennai and it will commence its business operations in due course. NLC India Ltd, under the Ministry of Coal, is into the mining of lignite and coal, and power generation business.