NLC India, a Navratna public sector company, has unveiled its latest venture into the renewable energy sector. On a mission to bolster India’s green energy capacity, the company has established a wholly-owned subsidiary known as NLC India Green Energy Limited (NIGEL). The subsidiary is set to play a pivotal role in the country’s sustainable energy journey, focusing on the expansion of renewable energy projects and technological innovations.
NIGEL’s Inaugural Board Meeting
NLC India Green Energy Limited (NIGEL) officially began its operations with a remarkable milestone—the convening of its first board meeting. During this meeting, key managerial positions were appointed, and the company’s logo was unveiled. This symbolic event marks the commencement of NIGEL’s journey towards fostering a cleaner, greener energy landscape in India.
Embracing Renewable Energy
With environmental sustainability taking center stage on a global scale, NIGEL is geared towards spearheading the renewable energy movement. The company recognizes the urgent need to accelerate renewable power generation, and it aims to do so with unwavering dedication.
NIGEL’s Focus on Renewable Energy (RE) Projects
Chairman Prasanna Kumar Motupalli, the driving force behind NIGEL, emphasized the subsidiary’s commitment to renewable energy projects. NIGEL aims to rapidly increase India’s renewable energy power generation capacity. The chairman’s vision aligns perfectly with the industry’s optimistic climate, which predicts robust growth in renewable energy, including advanced storage systems like pumped hydro systems and battery energy storage systems.
Ambitious Capacity Expansion by 2030
One of NIGEL’s ambitious objectives is to establish renewable energy projects with a combined capacity of 6 GW by 2030. Currently, the company is actively developing projects that collectively contribute 2 GW of power generation capacity across various regions in India. These projects will play a pivotal role in reducing the nation’s carbon footprint and increasing its energy security.
Leveraging the Potential of Battery Energy Storage
NIGEL recognizes the immense potential of battery energy storage systems (BESS) in the nation’s power grid. As per the “Optimal Energy Mix Report 2030 of CEA, Ministry of Power,” the estimated BESS capacity required on the grid is approximately 41.65 GW. This presents a remarkable opportunity for the development and deployment of cutting-edge energy storage systems, aligning with the Indian government’s vision for a greener energy landscape.
NLC India’s Commitment to Green Projects
NLC India Ltd. has shown unwavering commitment to its green energy endeavors by incorporating NIGEL. This wholly-owned subsidiary will be entrusted with the crucial tasks of planning, participating in upcoming renewable energy tenders, executing projects, and commissioning green energy initiatives. This move underlines the parent company’s dedication to sustainability and marks a significant step forward in India’s transition to clean and renewable energy sources.