New Delhi: NLC India Limited (NLCIL), a Navratna PSU under the Ministry of Coal has, incorporated a wholly owned subsidiary NLC India Green Energy Limited (NIGEL) specially focusing on taking up all renewable energy initiatives.

The first Board meeting of the company was held, and the appointment of key managerial positions were approved along with adoption of the company’s logo. Prasanna Kumar Motupalli, the Chairman of NIGEL while releasing the logo of the company said that the new company with focused attention on renewable energy projects will help in increasing the RE power generation capacity faster. With industry climate very optimistic, the growth of RE including storage systems like Pumped Hydro System and Battery Energy Storage System will happen concurrently.

He further added that as per the optimal energy Mix Report 2030 of CEA, Ministry of Power, the envisaged BESS on the Grid is about 41.65 GW and this provides great opportunity for storage system development.

The subsidiary is expected to establish RE projects to the capacity of 6 GW by 2030. Projects to the tune of 2 GW is being developed at various parts of the country.