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State-owned NLC India Ltd has announced that its renewable energy subsidiary, NLC India Renewables Ltd (NIRL), has secured a Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Ltd (GUVNL) to develop a 900 MW solar power project in Gujarat. The project was awarded through a tariff-based competitive bidding process, with GUVNL set to procure the electricity generated from the facility. Established in 2023, NIRL is responsible for managing NLC India's renewable energy assets and expanding its green energy portfolio through the development of solar and other non-conventional power projects in India and overseas.
NLC India Ltd has announced that its wholly owned subsidiary, NLC India Renewables Ltd (NIRL), has secured a Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Ltd (GUVNL) to develop a 900 MW solar power project in Gujarat.
The state-owned power producer disclosed the development in a regulatory filing earlier this week, stating that the project had been awarded through a tariff-based competitive bidding process. Under the agreement, the electricity generated from the proposed solar power plant will be procured by Gujarat Urja Vikas Nigam Ltd.
According to the filing, the award marks another addition to NLC India's expanding renewable energy portfolio as the company continues to increase its presence in India's clean energy sector.
NLC India Renewables Ltd was incorporated in 2023 as a dedicated renewable energy subsidiary of NLC India Ltd. The company was established to acquire, own and manage the renewable energy projects and green assets that were previously held by the parent company.
In addition to managing existing renewable energy assets, NIRL has been tasked with expanding NLC India's clean energy portfolio by developing power generation projects based on non-conventional and renewable energy sources both within India and in international markets.
The 900 MW project forms part of the country's ongoing efforts to expand renewable energy generation capacity through competitive bidding programmes. Tariff-based bidding has become the primary mechanism for awarding large-scale solar and wind projects, with distribution utilities procuring electricity from developers at competitively discovered tariffs.
The latest order also supports NLC India's strategy of diversifying beyond its traditional thermal power business by increasing investments in renewable energy infrastructure. Through NIRL, the company is focusing on developing utility-scale clean energy projects to contribute to India's transition towards a lower-carbon electricity mix while strengthening its long-term renewable generation portfolio.
The award further reinforces the growing pipeline of large-scale solar projects being developed across India as central and state agencies continue to procure renewable power to meet rising electricity demand and national clean energy targets.
Source - PTI
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