According to Chairman and Managing Director (CMD) Prasanna Kumar Motupalli, the IPO is planned for the first quarter of the upcoming fiscal year. In an interview with PTI, Motupalli mentioned NLCIL’s ambitious plans to increase renewable energy capacity from 1.4 GW to 6 GW by 2030. The funds generated from the IPO will play a crucial role in advancing this Sustainable energy expansion. Additionally, he added that to support its renewable energy projects even more, the company aims to obtain soft loans from banks and foreign entities.
Motupalli mentioned that the current assets of NLCIL are to be transferred to NLC India Renewables Ltd. The company is currently seeking exemptions from the Government of India for this asset transfer. The clearance is expected by October, clearing the way for an IPO in the first quarter of the next financial year, he added.
To support its green energy initiatives, NLCIL has also formed one more subsidiary, NLC India Green Energy Ltd, dedicated to new renewable energy projects.
In response to the country’s energy requirements, Motupalli highlighted the importance of balancing traditional thermal power generation with renewable energy sources. In this way, NLCIL, a sustainable company, is increasing its capability in the renewable and thermal energy industries.
At the present time, NLCIL has a total capacity of 6 Gigawatt, which includes 4.6 GW of thermal power and 1.4 GW of renewable energy. The company aims to scale up its total power capacity to 17 GW by 2030, with 11 GW from conventional sources and 6 GW from renewables. This expansion will require a capital infusion of nearly one lakh crore, supported by increased lignite and coal production, he explained.
NLCIL, a navratna company under the Ministry of Coal, is primarily engaged in power generation and mining.
Even though the company’s consolidated net profit dropped by 86.2% to ₹114.23 crore for the March quarter, the company remains committed to its long-term growth and sustainability.
NLCIL is in a position to make a substantial contribution to India’s renewable energy landscape through the upcoming IPO of NLC India Renewables Ltd. This is in line with the country’s fundamental objectives of sustainable development and carbon neutrality.
