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Joint Venture formed by Coal India and NLC for the development of solar and thermal power assets

Joint Venture formed by Coal India and NLC  for the development of solar and thermal power assets

The state-owned “Navaratna” company under the government of India, NLC India Limited has formed a Joint Venture with Coal India for the development of solar and thermal power assets.

Key Points:

  • Under the Joint Venture, the thermal and solar power assets will be made to the tune of 5,000 megawatts of power with both the companies holding 50:50 equity in the JV company.
  • The JV will bring the expertise and cooperation of the respective public sector undertakings under the Ministry of Coal.
  • The power generation capacity of NLC India Limited (earlier known as Neyveli Lignite Corporation) is 5,192 megawatts, in addition to the mining capacity of lignite, which is 30 million tonnes annually.
  • Under the project, the total capital expenditure has been projected to be ₹1.28 lakh crore till the year 2025 and will be in a debt-equity ratio of 70:30.

Note:

  • Coal India, the Public Sector Undertaking (PSU) headquartered in Kolkata, West Bengal is the single largest producer of coal across the globe and operates via 83 mining areas, that are spread across eight states in India.
  • The annual production of coal is 6097 million tonnes per annum.

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