NLCIL signs MoU with Indian Oil Corporation Limited for development of large-scale renewable energy projects in T.N
NLC India Limited (NLCIL) has inked a memorandum of understanding (MoU) with Indian Oil Corporation Limited (IOCL) for development of large-scale renewable energy projects in
NLC India Limited (NLCIL) has inked a memorandum of understanding (MoU) with Indian Oil Corporation Limited (IOCL) for development of large-scale renewable energy projects in Tamil Nadu. According to a press note, the MoU was signed by Anurag Mittal, Chief General Manager, Commercial and Business Development, NLCIL and Manoj Nanda, Chief General Manager, Alternate Energy, IOCL, in the presence of Prasanna Kumar Acharya, Director (Finance) NLCIL and Joydeep Chaudhary, Executive Director of IOCL.
The MoU envisages the development of large-scale renewable energy projects in the State, including solar, wind, hybrid power with or without Energy Storage such as Battery Storage and Pumped Storage Projects or any combination of the same for supply of renewable power to third parties. This includes Commercial and Industrial (C&I) consumers, discoms, energy exchange, for e-mobility, power to applications such as usage/production of green synthetic fuels/chemicals, complete value chain for solar module manufacturing etc., and any other opportunity in the renewable energy sector in the State of Tamil Nadu, as mutually agreed and based on techno-commercial feasibility.
While NLCIL has nearly seven decades of presence in mining and power generation, it also has been actively expanding into large-scale renewable and green energy initiatives including solar, wind, pumped hydro storage, BESS, green hydrogen, low-carbon, round-the-clock power and waste-to-energy projects. According to Prasanna
Kumar Motupalli, Chairman and Managing Director of NLCIL, the partnership marks a significant milestone in NLCIL’s strategic diversification into clean and sustainable energy sectors and reflects the shared commitment of both organisations towards sustainable development, technological advancement and nation-building through reliable and green energy solutions.
The BriefWire