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NLC, Coal India to form 50:50 JV to develop solar and thermal power assets

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Nlc,Coal india develop solar and thermal power assetsOn July 3, 2020, NLC India Limited signed a pact with Coal India Ltd (CIL) to form a joint venture (JV) to develop 5,000 megawatts (MW) of solar and thermal power assets across the country. There will be equal equity participation of both companies in the proposed JV i.e. in the ratio of 50:50. Notably, both undertakings are under the administrative control of the Ministry of Coal.

About NLC:

NLC earlier known as Neyveli Lignite Corporation — has a power generation capacity of 5,192 megawatts besides lignite mining capacity of 30 million tonnes per annum. Its projected capital expenditure up to the year 2025 is Rs 1.28 lakh crore with a debt-equity ratio of 70:30.

  • It is a Navratna Central Public Sector Enterprises (CPSEs).
  • Chairman cum Managing Director (CMD)– Rakesh Kumar
  • Headquarter– Cuddalore, Tamil Nadu

About Coal India:

Its projected capital expenditure up to the year 2025 is Rs1.28 lakh crore with a debt-equity ratio of 70:30.

  • It is a Maharatna CPSE.
  • Chairman cum Managing Director (CMD)– Pramod Agrawal
  • Headquarter– Kolkata, West Bengal