NLC India Powers Ahead: Mega Solar Pact in Rajasthan and Strategic Minerals MoU Spark Green Revolu

NLC India Limited (NLCIL) has announced two significant developments today, which are significant milestones in renewable energy as well as strategic mineral resources.

NLC India Renewables Limited (a wholly owned subsidiary of NLC India Ltd.) has inked a Power Purchase Agreement (PPA) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL), for its 810 MW grid-connected solar power project at the Pugal Solar Park in Rajasthan. The project was awarded through a competitive tariff-based bidding process by RVUNL, the project is being implemented under the MNRE's Ultra Mega Renewable Energy Power Park (UMREPP) Scheme - Mode 8. The Pugal Solar Park at the Bikaner district is blessed with ideal solar radiation with a high capacity utilization factor. The project will generate over 50 billion units of green power during its operational life, replacing around 50,000 tonnes of carbon dioxide emissions. The acquisition of this project will see NLCIL's renewable energy capacity in Rajasthan touch 1.36 GW, fulfilling its vision of securing over 6 GW of renewable capacity by 2030. The power will be supplied to Rajasthan at ₹2.64 per unit tariff, enabling the state's transition to clean energy.

In a concurrent development, NLCIL has entered into a Memorandum of Understanding (MoU) with IREL (India) Limited. The strategic alliance will look for the exploration and development of strategic mineral assets, including mining, excavation, and processing of rare earth elements (REEs). The joint venture is aligned with the Indian government's vision to establish the country's supply chain for industries such as renewable energy, electronics, defense, and electric mobility. The two companies will pool their capabilities to pursue domestic and overseas opportunities, thereby promoting long-term resource security.

Source: NLC India Limited