NLC India Renewables Ltd receives LoA from TNGECL for 3 BESS projects

NLC India Renewables Limited, a Wholly Owned Subsidiary of NLC India Limited, has received a Letter of Award (LoA) from Tamil Nadu Green Energy Corporation Limited (TNGECL) for the development of three (3) standalone Battery Energy Storage System (BESS) projects with an aggregate capacity of 250 MW/500 MWh, with complete two cycles of charging /discharging for on-demand usage. This is the first large-scale BESS project to be undertaken by NLCIL Group and marks a major milestone.

The projects shall be implemented under the Build-Own-Operate (BOO) model with Viability Gap Funding (VGF) support under the State component, and are to be located at 400/230/110 kV Ottapidaram SS, 400/230/110 kV Anuppankulam SS and 400/230/110 kV Kayathar SS in Tamilnadu. The project has been awarded through Competitive Bidding process.

Shares of NLC India Limited was last trading in BSE at Rs. 222.80 as compared to the previous close of Rs. 222.05. The total number of shares traded during the day was 23732 in over 566 trades.

The stock hit an intraday high of Rs. 224.50 and intraday low of 220.25. The net turnover during the day was Rs. 5292718.00.

Source : Equity Bulls

Keywords

NLCIndia INE589A01014 NLCIndiaRenewables LoA TNGECL BESSProjects