State-owned NLC India Ltd. (formerly Neyveli Lignite Corp.) aims to increase its renewable power generation capacity to 6.03 GW by 2030 from existing 1.42 GW by implementing various solar and wind projects. It estimates the total capital expenditure for renewable energy projects at INR 23,403 crore (around $2,864 million).
The power producer’s existing 1,421 MW of renewables capacity includes 1,370 MW of solar and the balance 51 MW wind. The total investment made in these projects is INR 6,594 crore, including equity deployment of INR 1,675 crore.
The project pipeline includes 150 MW of wind-solar hybrid pan India, which it won at an INR 2.34/kWh tariff in an auction by the Solar Energy Corp. of India (SECI). NLC has already received a letter of award for the project and is in the process of floating domestic competitive bidding for setting up these projects. It has also bagged 510 MW capacity in the CPSU Scheme of IREDA.
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