NLC India has incorporated a wholly owned subsidiary NLC India Green Energy Limited (NIGEL). The mandate of NIGEL is to focus on Renewable Energy initiatives.
The first Board meeting of the company was held, and the appointment of key managerial positions were approved along with adoption of the company’s logo.
Prasanna Kumar Motupalli, the Chairman of NIGEL while releasing the logo of the company said that the new company with focused attention on Renewable energy projects will help in increasing the RE power generation capacity faster.
“The climate in industry regarding green energy initiatives is very positive. NIGEL will facilitate the growth of Renewable energy. The growth in storage systems like Pumped Hydro System and Battery Energy Storage System will happen concurrently,” he said.
He added that as per the Optimal Energy Mix Report 2030 of CEA, Ministry of Power, the envisaged BESS on the Grid is about 41.65 GW and this provides great opportunity for storage system development.
NLC India Green Energy Limited (NIGEL) is expected to establish RE projects to the capacity of 6 GW by 2030.
