Companies

NLC India’s renewable power capacity exceeds 1 GW

G Balachandar Chennai | Updated on September 11, 2019 Published on September 11, 2019

Rakesh Kumar, CMD, NLC India   -  The Hindu

To commission more solar, thermal projects this fiscal

State-owned mining-cum-power generating company NLC India has said its installed capacity in the renewable sector has exceeded 1,000 MW.

The company commissioned 95-MW capacity of the 109-MW solar power project in Ramanathapuram district in south Tamil Nadu. With this, the total renewable capacity established by the company exceeded 1 GW.

The above project was part of 709-MW solar power projects awarded by TANGEDCO. The total cost of the 709 MW projects is estimated at ₹3,036 crore. This will have a debt-equity ratio of 80:20. “These projects are expected to be commissioned during this fiscal,” Rakesh Kumar, Chairman & Managing Director of NLC India, had told the company’s recent conference call.

NLC India is executing a 20-MW solar power project in the Andaman Islands at an estimated cost of ₹131 crore. The company has already commissioned 2.5 MW of solar unit and is in the process of installing and commissioning 17.5-MW capacity in the island during this fiscal.

Along with renewable projects, the company expects to commission both the units of Neyveli New Thermal Power Station during this fiscal. Also, its Talabira Mine in Odisha will start coal production this year.

By November 2020, it is expected to commission one unit (660 MW) of Neyveli Uttar Pradesh Power Ltd (NUPPL), Ghatampur.

In the first quarter of this fiscal, the company could sell 264.71 million units of solar power, which resulted in a revenue of ₹88.57 crore. In the case of wind power, it supplied 26.06 million units and the revenue was ₹10.38 crore.

The company’s profit before tax in the case of solar during Q1 of this fiscal was ₹24.64 crore and for wind, it was ₹4.99 crore. PAT was ₹21-22 crore in solar and over ₹3 crore in wind (as the tax was about 24 per cent), according to Kumar.

Published on September 11, 2019
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