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NLC India Approves Rs1,630 Cr Investment in Renewable Arm NIRL

NLC India Limited has granted in-principle approval to invest Rs1,630.89 crore in its wholly-owned renewable energy subsidiary, NLC India Renewables Limited (NIRL). The investment, to be made in one or more tranches via equity share subscriptions at face value, aims to strengthen NIRL’s renewable project pipeline. The approval is subject to necessary clearances from DIPAM and other regulatory bodies.

Additionally, the board has approved raising up to $100 million (equivalent in Japanese yen) via external commercial borrowing (ECB) from Sumitomo Mitsui Banking Corporation. These funds will be used to finance NIRL’s green energy projects across India.

NIRL was established as a dedicated arm to drive NLC India’s transition towards clean energy. Currently, it operates a renewable energy generation capacity of 1,431 MW, contributing to the company’s sustainability goals and national renewable targets.

The move aligns with NLC India’s long-term strategy to diversify its energy portfolio, reduce reliance on fossil fuels, and support India’s energy transition. This capital infusion and foreign debt raise reflect the company’s aggressive plans to scale up renewable investments in line with the country’s climate commitments.