NLC India and Coal India to Form 50:50 JV to Develop Solar and Thermal Power Assets
- NLC India said it has signed a pact with state-owned CIL to form a joint venture (JV) to develop 5,000 megawatts 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.
- The company — earlier known as Neyveli Lignite Corporation — has a power generation capacity of 5,192 megawatts besides lignite mining capacity of 30 million tonnes per annum.
- Its projected capital expenditure up to the year 2025 is ₹1.28 lakh crore with a debt-equity ratio of 70:30.
- Coal India is the single largest coal producer worldwide and operates through 83 mining areas spread over eight states in India. It produces 607 million tonnes of coal annually.
About Coal India Limited–
Coal India Limited is an Indian state-owned coal mining and refinery company headquartered in Kolkata, West Bengal, India. It is the largest coal-producing company in the world and a Maharatna PSU. The company contributes to around 82% of the coal production in India.
- Founded – 1975
- Headquarters– Kolkata, West Bengal
- Chairman & CEO – Pramod Agarwal
NLC India Limited is a ‘Navratna’ government of India company in the fossil fuel mining sector in India and thermal power generation. It annually produces about 30 million tonne lignite from opencast mines at Neyveli in the state of Tamil Nadu in southern India and at Barsingsar in Bikaner district of Rajasthan state.
- Founded – 1956
- Headquarters– Chennai, India
- Chairman cum Managing Director (CMD)– Rakesh Kumar