Reddy gives update on India strides towards a sustainable and low-carbon future
NLC India Limited (NLCIL) is to invest Rs.50,000 crore for increasing its RE capacity from 1.43 GW to 10.11 GW, and achieving portfolio mix of 50% of its total planned capacity, in line with the country’s aim to have 500 GW non-fossil energy by 2030.
Highlighting this NLCIL target, Minister of Coal and Mines G. Kishan Reddy said such is the nation strides towards a sustainable and low-carbon future.
“India is committed to a low-carbon emission path while pursuing its development goals, as pledged at COP 26,” said Reddy, pointing out that NLCIL is a leading and responsible Central Public Sector Enterprise in this drive.
The above plan entails an investment of Rs.50,000 crore (approx) in Renewable portfolio, which will support India’s RE target and contributes to the broader aim of achieving ‘Net Zero’ emissions by 2070.
This enhanced target aligns with the Government’s “Panchamrit” initiative announced at the COP 26 Summit as India’s contribution & commitment towards climate action.
NLC India Green Energy Limited (NIGEL), a wholly owned subsidiary of NLCIL established with special focus on Renewable Energy Generation, is set to lead the company’s intended renewable energy portfolio, he said in an industry update on Sustainable Green Initiatives.
With 2 GW of renewable energy assets are under implementation, NIGEL aims to expand its portfolio by participating in competitive bidding and exploring emerging opportunities in the green energy sector.
“This expansion will reduce India’s dependence on conventional energy sources, diversify energy generation, and lower coal import. Additionally, it will help ensure round the clock power supply across the country,” said the Minister in a release on 13 Sept.
Further, NLCIL envisages to increase the share of Renewable Energy from 50% at 2030 to 77% at 2047 in its energy generation portfolio, enabling the company to achieve Net Zero by 2070.
With a much-changed energy landscape beyond 2030, NLCIL foresees no new thermal power capacity addition.
“Instead, Innovation in reducing the emissions from the existing thermal power stations will be the guiding action in the domain,” he said. fiinews.com
