Source: NDTV
Context: The Union Cabinet has approved a special investment exemption for NLC India Limited (NLCIL), allowing it to invest ₹7,000 crore in renewable energy without prior approvals.
About NLC India Limited (NLCIL):
- What It Is?
- A Navratna Central Public Sector Enterprise (CPSE) engaged in lignite mining and thermal, coal, and renewable power generation.
- Established: 1956
- Headquarters: Neyveli, Tamil Nadu
- Under: Ministry of Coal
- Mission: Integrating People, Planet, and Profit through sustainable mining and green energy leadership.
- Functions & Objectives:
-
- Mining of lignite and coal in India and abroad.
- Power generation from thermal and renewable sources.
- Undertakes major sustainability projects: eco-restoration, afforestation, rainwater harvesting.
- Implements clean mining technologies, emission control, and community-centric CSR.
- Aligns operations with India’s climate goals and Net Zero roadmap.
Investment Exemption:
- What It Is?
-
- ₹7,000 crore investment allowed by NLCIL in its wholly-owned subsidiary NLC India Renewables Ltd (NIRL).
- NIRL can invest further via direct route or Joint Ventures (JVs) in RE projects.
- No need for prior approval, as required under usual CPSE guidelines.
- Exemption Details:
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- Waiver of 30% net worth ceiling set by Dept. of Public Enterprises (DPE).
- Exemption from investment caps under “Navratna CPSE” rules.
- Eligibility:
-
- Applies to NLCIL and NIRL for India’s renewable energy expansion plan.
- Covers transfer of 2 GW existing RE assets and new green investments.
