NLC India Announces Ambitious Plans to Triple Power Generation Capacity and Emphasize Renewable Energy
NLC India (NLCIL), one of India’s leading power generation companies, has unveiled its grand vision to triple its total power generation capacity by 2030. With a strong focus on renewable energy, the company aims to align with India’s climate commitments and contribute to the country’s goal of achieving 500 GW of non-fossil energy capacity by 2030, a target widely emphasized during the COP 26 summit.
An Emphasis on Renewable Energy to Fulfill Climate Commitments
In an effort to support India’s climate goals, NLCIL plans to significantly boost its renewable energy portfolio. Currently possessing a renewable energy capacity of 1.43 GW, the company aims to enhance this to an impressive 10.11 GW, increasing the proportion of renewable energy in its overall planned capacity to 50%.
This ambitious transition to renewable energy will require a substantial investment of around Rs 500 billion. By allocating these funds, NLCIL intends to not only contribute to India’s broader renewable energy objectives but also aid in achieving the ambitious target of ‘Net Zero’ emissions by 2070.
Driving Renewable Energy Expansion through NLC India Green Energy (NIGEL)
To spearhead its renewable energy expansion, NLCIL has tapped into the potential of its own subsidiary, NLC India Green Energy (NIGEL). As a wholly owned subsidiary, NIGEL is currently in the process of developing 2 GW of renewable energy assets.
In line with NLCIL’s vision, NIGEL will actively participate in competitive bidding processes and explore new opportunities in the green energy sector. Through these efforts, the subsidiary aims to further enhance its renewable energy capacity and play a vital role in India’s transition towards clean and sustainable power sources.
Decreasing Dependency on Conventional Energy and Diversifying Energy Mix
By embarking on this transformative journey, NLCIL seeks to reduce India’s dependency on conventional energy sources and diversify the nation’s energy mix. With the move towards boosting its renewable energy portfolio, the company aims to curtail coal imports and utilize carbon-free resources to generate a substantial part of India’s power supply.
The venture into renewable energy is part of a wider strategy to remain ahead of the curve and adapt to the unfolding energy revolution. Understanding the looming importance of sustainable practices, NLCIL plans to scale up the proportion of renewable energy in its portfolio to a commendable 77% by 2047.
Towards Net-Zero Emissions by 2070
Looking towards the future, NLCIL acknowledges the necessity of curbing carbon emissions and combating climate change. Beyond 2030, the company envisions no new thermal power plant capacity additions. Instead, it devotes its attention to reducing emissions from existing thermal plants. Through consistent efforts, NLCIL strives to achieve ‘Net Zero’ emissions by 2070, thereby further aligning with global environmental targets.
In conclusion, NLC India’s disclosure of its plans to triple its power generation capacity by 2030 serves as a significant milestone towards India’s renewable energy goals. By prioritizing the harnassment of renewable energy sources and investing substantially in this sector, NLCIL demonstrates its commitment to combating climate change and advancing India’s sustainability agenda. Moving steadily towards reducing coal imports, diversifying the energy mix, and lowering carbon emissions, NLC India sets an inspiring example as a frontrunner in the journey towards a greener future.
