NLC India invests big money into renewable energy
KOLKATA: State-owned power producer NLC India is investing heavily in renewable energy as producing only lignite and generating power from it may not be sustainable for long, chairman and managing director S K Acharya told ET. Earlier known as Neyveli Lignite Corporation , the company recently won a 709 MW solar project in Tamil Nadu and hopes green energy will boost topline growth.
It has firmed up a capex of about Rs 17,400 crore for setting up 4,200 MW of green energy generation capacities by 2020 as part of its diversification plan. “Only producing power from lignite is not sustainable in the long run although generation from this fuel will continue to be bulk of its revenue for years to come,” said Acharya.