NLC India eyes ₹4,500 crore IPO for green energy arm by June next year

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Subscribe to enjoy similar stories. New Delhi: State-run NLC India Ltd is looking to raise about ₹4,500 crore through the initial public offering (IPO) of its subsidiary NLC India Renewables Ltd (NLCIRL) in April-June 2025, according to its top executive. NLC will offload 51% shares of the renewable energy arm, Prasanna Kumar Motupalli, chairman and managing director (CMD) at the public sector lignite miner, told Mint.

The company is currently in the process transferring all its renewable energy assets, largely comprising solar projects with a cumulative valuation of about ₹8,000 crore, to the subsidiary, he said. Of the 6,071.06MW of its power generation capacity, the majority of it is lignite and coal-based energy, while renewable projects comprise about 1,431MW. Currently, NLCIL operates 1,380MW of solar power plants in the southern districts of Tamil Nadu and the Andaman & Nicobar Islands, as well as a 51MW wind power plant in the Tirunelveli district of Tamil Nadu.

Also read | NLC India plans ₹24,000 crore solar investment by 2030: CMD As part of its expansion plan and in line with the Centre’s goal of installing 500GW of non-fossil fuel capacity by 2030, NLC has set an ambitious target to contribute 10.11GW to this through various renewable energy projects across Tamil Nadu and other states, contingent upon their technical and commercial feasibility, says its annual report for FY24. NLCIL also intends to be involved in solar park projects initiated by different state governments. It has also joined the International Solar Alliance as a member.