NLC India, CIL Form JV to Co-Develop 5 GW Solar & Thermal Assets

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NLC India has signed a pact with state-owned CIL to form a JV to develop 5,000 megawatts (5 GW) of solar and thermal power assets across the country.

Navratna mining and thermal power genco NLC India has announced that it has signed a pact with state-owned Coal India Limited (CIL) to form a joint venture (JV) to develop 5,000 megawatts (5 GW) of solar and thermal power assets across the country.

The equity participation in the proposed JV between Coal India Ltd (CIL) and NLC India will be in the ratio of 50:50, NLC India said in a regulatory filing.

“This JV company marks a new era in the power sector with the synergy and expertise of two central public sector undertakings under the Ministry of Coal,” the company said.

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It was in November 2019, when the two firms had first indicated that they would be coming together to form a JV for Solar Power Generation of 3,000 MW and Thermal Power Projects of 2,000 MW capacity.

Binay Dayal, Director (Tech) CIL had then signed the MoU on behalf of CIL while N N Maheswar Rao, Director, Technical (Projects & Planning) inked the pact on behalf of NLCIL.

The MoU was signed as a consequence of CIL being tasked to become a Net Zero energy company by the Ministry of Coal, a move that entails the company to generate 3,000 MW of solar power. The MoU also extends for 2,000MW of thermal power generation across CIL’s subsidiaries. Solar power projects will be set up in the identified barren and reclaimed free land of CIL and also across the country where land is available, requiring around 15,000 acres. The estimated cost for CIL’s solar power generation is pegged at Rs. 12,000 Crores.

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In September 2019, NLC India had announced that it had successfully completed 709 MW solar PV projects in Tamil Nadu, which was awarded to it by state utility Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO).

The company had stated in a regulatory filing that the balance 351 MW of solar power projects under implementation in the districts of Tirunelveli, Tuticorin, Virudhunagar and Ramanathapuram, out of 709 MW solar power projects, awarded by TANGEDCO, have been successfully completed. And have started commercial operation.

The firm had also revealed that with the completion of the last round of the 351 MW solar projects, the entire 709 MW solar power projects that were under implementation in Tamil Nadu have been fully completed. And the overall solar power generation capacity for the company has now increased to 1,350 MW.