NLC India Renewables Ltd signs PPA for its largest Solar Project - 810 MW at Pugal Solar Park, Rajasthan

In line with the vision of Hon'ble Prime Minister of India, Shri. Narendra Modi, in establishing 500 GW of Renewable Energy capacity by 2030, NLC India Renewables Limited (NIRL), a 100% subsidiary and renewable energy arm of NLC India Limited (NLCIL), a Navratna Central Public Sector Undertaking, today signed the Power Purchase Agreement (PPA) for its upcoming 810 MW Solar Power Project with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) at a formal ceremony held in Jaipur.

The agreement was signed in the esteemed presence of Smt. Arti Dogra, IAS, Chairperson & Managing Director, DISCOMs, Government of Rajasthan, and Secretary (Energy), Government of Rajasthan (Addi. Charge), Shri. Nathmal Didel, !AS, Managing Director, Rajasthan Rajya Vidyut Prasaran Nigan:, Limited, Shri Prasanna Kumar Motupalli, Chairman and Managing Director, NLCIL and Chairman, NIRL, Shri Deveridra Shringi, Chairman and Managing Director, RVUNL, along with senior officials from RVUNL NLCIL and NIRL.

This flagship project at Pugal Solar Park, Bikaner District marks a significant milestone in NLCIL's journey towards becoming a major player in the renewable energy space. The project is being developed in the barren lands of Bikaner District and the proposed site is bestowed with abundant Solar radiation. 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.

NLCIL was the first CPSU in the country to establish 1 GW of Renewable energy projects in the country and is continuing its pursuits in the field of Renewable energy and the 810 MW Puga I solar project is a testament to these efforts.

The project is expected to generate approximately 2 Billion Units (BU) of green electricity annually and offset approximately 1.5 million metric tons of CO2 emissions per year, as per the terms of PPA, playing a vital role in India's transition to a low-carbon economy.

The project will be established within the infrastructure of the 2000 MW Pugal Solar Park being developed by RVUNL.

Speaking at the signing event, CMD Shri Prasanna Kumar Motupalli remarked: "This 810 MW project is a jewel in the crown of NLCIL 's renewable portfolio. The signing of the PPA marks a pivotal moment for NLCIL and reaffirms our commitment to clean and sustainable energy. This 810 MW project is not just our largest solar initiative-it is a symbol of our resolve to lead India 's green energy future. We are proud to collaborate with RVUNL and the State of Rajasthan in this transformative effort."

With this project, NLCIL's cumulative renewable energy capacity under implementation takes a major leap, reinforcing its mission of powering India responsibly with a balanced energy mix of conventional and renewable sources. This addition also brings NLCIL a step closer to its strategic target of achieving 10 GW of renewable energy capacity by 2030, aligned with India's decarbonization and energy security goals.

NLCIL is also contemplating upto 2000 MW renewable energy projects and 3 x 125 MW lignite-based thermal power projects with linked lignite mines in Rajasthan through Joint Venture mode. NLCIL's association with the State of Rajasthan dates back to the early 2000s and continues to grow, founded on mutual trust and respect.

Shares of NLC India Limited was last trading in BSE at Rs. 217.75 as compared to the previous close of Rs. 225.80. The total number of shares traded during the day was 39432 in over 1633 trades.

The stock hit an intraday high of Rs. 229.40 and intraday low of 217.05. The net turnover during the day was Rs. 8735320.00.

Source : Equity Bulls

Keywords

NLCIndia INE589A01014 ElectricUtilities NLCIndiaRenewables PPA 810MWSolarPowerProject RVUNL