The central government’s cabinet recently approved & provided a jaw-dropping ₹7,000 crore for investment in green energy via NIRL. Learn all you need to know about this buzzing news.
About NIRL
NLC India Renewables Limited, or NIRL, is a subsidiary of NLC India. The government has now given approval to invest 7,000 crore for a green energy leap. The decision was taken by the central government’s Cabinet Committee on Economic Affairs, which is headed by Prime Minister Narendra Modi.
Renewable Energy target for 2030
Last year in November, India set an ambitious target of achieving 500 GW from non fossil sources of power. Out of that, 50% is achieved. And through the newly approved ₹7,000 crore, NLC/NRIL can now invest in more renewable energy projects.
The investment plan
Some details of the investment plan include:
Investments in subsidiaries and joint businesses are exempt from the 30% net worth ceiling.
The funds will be utilised to establish solar, wind, and hybrid renewable energy projects, either directly or through joint ventures.
NLCIL's existing 2 GW renewable assets will be transferred to NIRL, integrating their green portfolio.
What’s Next?
With the Cabinet's investment, NLC India can now:
Accelerate solar, wind, and hybrid projects.
Join competitive bidding and create cooperative enterprises.
Investigate battery storage and clean-tech ideas.
Create more local jobs while reducing reliance on coal.
This move establishes NLCIL as a major player in India's clean energy transformation.