NLCIL incorporates arm for commissioning green projects

New Delhi: NLC India Ltd on Monday said it has incorporated a wholly owned arm NLC India Green Energy Ltd (NIGEL) for commissioning of green projects.

NIGEL will take care of planning, participating in upcoming renewable energy tenders, execution and commissioning of green energy projects, NLC India Ltd (NLCIL) said in a statement.

The arm is likely to achieve 5 GW capacity by 2030 and contribute for carbon emission reduction, NLCIL Chairman and Managing Director Prasanna Kumar Motupalli said.

The navratna public sector undertaking has already incorporated a wholly owned arm NLC India Renewables Ltd for asset monetisation.

At present, 2 GW of renewable energy projects are under implementation and will be taken up by NIGEL, including 600 MW solar power project in Gujarat and 810 MW solar photovoltaic power project in Rajasthan.

The company's registered office is in Chennai and will start business operations in due course, as per the statement.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)