NLC India Limited has informed the Exchange regarding a press release dated May 06, 2025, titled "NLC India Renewables Limited, wholly owned subsidiary of NLC India Limited, Signs Power Purchase Agreement for Its Largest Solar Project- 810 MW at Pugal Solar Park, Rajasthan".
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NLC India Renewables Limited (NIRL), the wholly owned subsidiary of NLC India Limited, has signed a Power Purchase Agreement (PPA) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) for an 810 MW solar power project at Pugal Solar Park in Bikaner District, Rajasthan. This is NIRL's largest solar project to date and was awarded through a competitive tariff-based bidding process under the MNRE's Ultra Mega Renewable Energy Power Park (UMREPP) Scheme. The project is expected to generate around 2 billion units (BU) of green electricity annually and offset about 1.5 million metric tons of CO2 emissions per year. The signing took place in Jaipur in the presence of senior officials from NLCIL, RVUNL, and the Government of Rajasthan. With this addition, NLCIL moves closer to its strategic target of 10 GW of renewable energy capacity by 2030.
This is a positive development for NLC India shareholders as the 810 MW project significantly expands the company's renewable energy portfolio, secures long-term revenue through a government-backed PPA, and strengthens its position in India's green energy transition. It also signals potential for further capacity additions in Rajasthan, including up to 2,000 MW more in renewable energy and 375 MW of lignite-based power through joint ventures.