NLC to invest over Rs 14,000 cr in coal-based and renewable energy...

NLC to invest over Rs 14,000 cr in coal-based and renewable energy projects in Odisha

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Chennai-based navratna PSU company, NLC India Ltd (formerly Neyveli Lignite Corporation), has firmed up plans to set up a pithead coal-based power project in Odisha.  The plant will have a capacity of 3,200 Mw.  The power plant entails an investment of Rs 11,785 crore. The project is going to come up at Tareikela near Jharsuguda in western Odisha. The site chosen for the coal-fired power generating station is in the vicinity of the Talabira-II and Talabira-III coal blocks the company has won in the state.  Apart from coal-based generation, NLC has committed an investment of Rs 2,250 crore on a string of solar power projects in Odisha with a capacity totaling 300 Mw.  The solar power plants are targeted for multiple locations that are yet to be identified, as the state government has been struggling to alienate patches of contiguous land for such projects.  Most solar proponents were opting for hinterland locations for putting up their plants.  Engaged in the business of lignite mining and power generation, NLC reported strong numbers in the December quarter.  Its net profit surged to Rs 336.17 crore from Rs 17.90 crore in the corresponding quarter of last fiscal.

Source: business-standard.com

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