Government Greenlights NLC India’s Rs 7,000 Crore Investment in NIRL

The Indian government has granted NLC India permission to invest Rs 7,000 crore in its subsidiary, NLC India Renewables Limited (NIRL). The decision, made by the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi, circumvents current investment norms for Navratna CPSEs.

This strategic decision allows NLCIL to exceed traditional investment constraints, empowering NIRL to invest directly in renewable projects or through forming Joint Ventures without needing prior government approvals. The move aims to bolster renewable sector advancements.

An official statement highlighted the exemption from existing delegation of powers, marking a substantial shift towards more flexible and swift investment processes within the renewable energy domain.

(With inputs from agencies.)