NLC India Gears Up for Renewable Energy IPO

NLC India Ltd's renewable energy subsidiary, NIRL, aims for an IPO by the second quarter of the next financial year, with a target of raising Rs 4,000 crore. The funds will part-finance its ambitious plan to expand its renewable energy capacity from 1.4 GW to 10 GW by 2030, according to Chairman and Managing Director Prasanna Kumar Motupalli.

With eyes set on the substantial growth in green energy, NLC India Ltd will invest Rs 50,000-Rs 60,000 crore, funded via equity and debt, to achieve its vision. This ambitious roadmap comes on the heels of a government exemption allowing NLC India to invest heavily in its renewable projects without adhering to typical investment guidelines for government-owned firms.

Currently boasting a total installed capacity of 2 GW across seven renewable energy assets, NLC India aims to quadruple this by 2047, with the overall strategic plan supported by the Ministry of Coal. As early as 2026, the company plans to file draft papers with the markets regulator, SEBI, marking a significant step in its renewable energy journey.

(With inputs from agencies.)