NLC India has recently informed exchanges that the board approved an investment of up to ₹3,720 crore in NIRL, a wholly owned subsidiary, for the development of renewable energy projects in Gujarat and Rajasthan. This investment will be made through equity share subscriptions at face value, as part of NIRL’s asset monetization plan.
The Board also approved the issuance of Letters of Comfort to subsidiaries, including NLC India Renewables Limited and NLC India Green Energy Limited, for borrowings.
These decisions are part of NLCIL’s strategy to expand its renewable energy footprint and provide financial support to its subsidiaries, ensuring long-term growth in the renewable energy sector.
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NLC India