India’s NLC plans Rs 4,500-crore IPO for green energy sector by June next year

Public sector lignite miner’s chairman and managing director (CMD) Prasanna Kumar Motupalli said NLC will sell 51% stake in renewable energy unit Mint. The company is currently in the process of transferring all of its renewable energy assets, primarily consisting of solar projects, with a cumulative valuation of approx. $He said Rs 8,000 crore was given to subsidiaries.

Of its 6,071.06MW generation capacity, the majority is lignite and coal-based energy, while renewable energy projects account for approximately 1,431MW. Currently, NLCIL operates 1,380 MW solar power plants in the southern districts of Tamil Nadu and the Andaman and Nicobar Islands, and a 51 MW solar power plant in the Tirunelveli district of Tamil Nadu. Wind power plant.

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As part of its expansion plans and in line with the Centre’s target of installing 500 GW of non-fossil fuel capacity by 2030, NLC has set an ambitious target to contribute 10.11% to this through various renewable energy projects in Tamil Nadu and other states GW, its FY2024 annual report said, based on its technical and commercial feasibility. NLCIL also intends to participate in solar park projects initiated by different state governments. It also joins the International Solar Alliance as a member.

NLCIRL was established in FY24 to integrate, monetize and optimize the value of NLC’s renewable assets and ensure efficient management. Additionally, a step-down subsidiary, NLC India Green Energy Ltd, has been set up to lead the company’s future renewable energy initiatives.

The company is also considering modernizing its power infrastructure to ensure it meets and exceeds changing energy needs while maintaining its commitment to sustainability, CMD said in a message to shareholders in its annual report for the last financial year. In its diversification efforts, the lignite mining and power generation company is also exploring innovative projects such as converting lignite to methanol and green hydrogen initiatives, he said.

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This happens when the government is keen on getting public sector companies to list their green energy subsidiaries on the exchanges. September 26, Mint The Center has asked state-owned energy companies to consider making their renewable energy business public, the report said. The goal is to create value for itself and its shareholders rather than selling assets to private entities.

NTPC Green Energy Ltd has submitted a draft document $A Rs 1,000-crore initial public offering is expected to begin in early November, while SJVN Ltd plans to list its green energy business SJVN Green Energy Ltd and navratna firm Solar Energy Corp. of India (Seci) plans a public offering within the next two years.

The open market route is part of the government’s asset monetization and disinvestment plan. By fiscal year 2024, total $$3.58 trillion raised in three years $6 trillion national monetization pipeline. Fiscal Year 2024, approx. $The annual target of raising funds is 1.56 trillion $1.8 trillion.

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