NLCIL Signs 300 MW Solar Power Usage Agreement with Rajasthan Urja Vikas Nigam
Agreements
5 min read
NLC India Limited, a Navratna Central Public Sector Undertaking under the administrative control of Ministry of Coal has entered into Long Term Power Usage Agreement for next 25 years with Rajasthan Urja Vikas Nigam limited for supply of 300 MW Solar Power under CPSU Scheme at Rajasthan.
About 750 million units of power will be generated annually from the project, and all the green power generated will be supplied to the state of Rajasthan, to help it meet its Renewable Purchase Obligation targets.
News Highlights
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Power Project to help in reduction of carbon emission to the tune of 0.726 Million Tonnes of Carbon Dioxide emissions every year.
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NLCIL presently has 1,421 MW of Renewable Energy Capacity. As per the Corporate Plan of the company, it contemplates establishing 6,031 MW capacity by 2030.
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The company has secured 510 MW Solar Project capacity in the CPSU Scheme Phase-II Tranche-III floated by Indian Renewable Energy Development Agency (IREDA) through competitive bidding.
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A 300 MW Solar project capacity is under execution at Barsingsar, Bikaner District, Rajasthan.
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On Renewable Energy front, in addition to present 1.40 GW capacity in Tamil Nadu, this is the first time NLCIL expanding its footprint of this capacity in other States.
About NLCIL
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The Company was incorporated on 14.11.1956. NLCIL is a Navratna Government of India Enterprise, under the administrative control of the Ministry of Coal.
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The Company is also operating 4 Lignite based pit-head Thermal Power Stations with an aggregate capacity of 3390 Mega Watt (MW) at Neyveli and one 250 MW Lignite based Thermal Power Station (BTPS) at Barsingsar, Rajasthan. A 1000 MW Coal based Thermal Power Station is also in operation at Thoothukudi, Tamil Nadu through its subsidiary company, NLC Tamilnadu Power Limited (NTPL), a Joint Venture between NLCIL and TANGEDCO
The eligibility criteria laid down by the Government are the following:
Criteria for grant of Maharatna status :-
(i) Having Navratna status.
(ii) Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations.
(iii) Average annual turnover of more than Rs. 25,000 crore, during the last 3 years.
(iv) Average annual net worth of more than Rs. 15,000 crore, during the last 3 years.
(v) Average annual net profit after tax of more than Rs. 5,000 crore, during the last 3 years.
(vi) Should have significant global presence/international operations.
Criteria for grant of Navratna status :-
The Miniratna Category – I and Schedule ‘A’ CPSEs, which have obtained ‘excellent’ or ‘very good’ rating under the Memorandum of Understanding system in three of the last five years, and have composite score of 60 or above in the six selected performance parameters, namely,
(i) net profit to net worth,
(ii) manpower cost to total cost of production/services,
(iii) profit before depreciation, interest and taxes to capital employed,
(iv) profit before interest and taxes to turnover,
(v) earning per share and
(vi) inter-sectoral performance.
Criteria for grant of Miniratna status :-
The CPSEs which have made profits in the last three years continuously and have positive net worth are eligible to be considered for grant of Miniratna status.
