NLC India Ltd on 20 November announced that they will invest Rs 3,720 crore in its wholly-owned subsidiary, NLC India Renewables Ltd, in tranches to carry out green energy projects, which is subject to approval from DIPAM. 

Additionally, NLC India said that, as part of an asset monetisation plan, it will be transferring renewable assets to NIRL in exchange for a stake in the green energy company.

NLC India stated that the investment in NIRL is intended to carry out current green projects under the asset monetisation plan and to create renewable power projects in Gujarat and Rajasthan.

Additionally, as of 30 September, the business disclosed that the net book value of renewable assets in NLC India’s books was Rs 6,263 crore.

NLC India Renewables, NLC India Green Energy, Neyveli UP Power, and NLC Tamil Nadu Power are among the subsidiaries to which the corporation has also authorised the issuance of letters of comfort for borrowing.

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