New Delhi: In a move to grow green energy across the country, the coal ministry on Sunday said that Navratna public sector firm NLC India was incorporated with a wholly-owned subsidiary NLC India Green Energy Limited (NIGEL), which commenced its business operations. The move of the company aims to provide storage systems like pumped hydro system and battery energy storage system and it will happen concurrently.
As per the ministry's statement, the company held its first board meeting in this regard, and approved the appointment of key managerial positions, along with the adoption of the company's logo as well. "The new company, with a focus on renewable energy or RE projects to help expand the RE power generation capacity faster," said NIGEL Chairman Prasanna Kumar Motupalli.
The green energy arm is likely to establish RE projects to the capacity of 6 GW by 2030. Projects of 2 GW are being developed in various parts of the nation. "With industry climate very optimistic, the growth of RE, including storage systems like pumped hydro system and battery energy storage system, will happen concurrently," he said.
"As per the optimal energy mix report 2030 of CEA, ministry of power, the envisaged battery energy storage systems (BESS) on the grid is about 41.65 GW, and this provides a great opportunity for storage system development," The chairman further said in the statement.
NLC India Ltd also recently said that it incorporated a wholly-owned arm NLC India Green Energy Ltd for the commissioning of green projects. "NIGEL will take care of planning, participating in upcoming renewable energy tenders, execution and commissioning of green energy projects," NLC India Ltd had said.
