NLC India Signs PPA For 810-MW Solar Project In Rajasthan

NLC India Ltd. on Tuesday said its wholly-owned subsidiary, NLC India Renewables Ltd., has signed a power purchase agreement with Rajasthan Rajya Vidyut Utpadan Nigam Ltd. for an upcoming 810-MW solar power project in Rajasthan.

The project, which was secured through a competitive tariff-based bidding process, is expected to generate about 2 billion units of green power annually. It will be set up within the 2 GW Pugal solar park developed by Rajya Vidyut Utpadan Nigam, the company said in an exchange filing.

With this addition, NLC India has taken a significant step towards its goal of achieving 10 gigawatts of renewable energy capacity by 2030. The company is also planning up to 2 gigawatts of new renewable energy projects, along with three 125 MW lignite-based thermal power projects with captive lignite mines in Rajasthan through joint ventures.

In a separate exchange filing, NLC India said it has signed an agreement with IREL (India) Ltd. to jointly develop critical mineral assets, including rare earth elements. The collaboration will involve acquiring assets or sourcing raw materials, both within India and abroad, as part of the company’s strategy to expand in the critical minerals sector.