Tamil Nadu-based NLC India, a public sector company engaged in lignite mining and power generation, plans to quadruple its renewable energy capacity by 2030. Currently, NLC has 1.4 gigawatts (GW) of renewable capacity, including solar and wind energy.

Prasanna Kumar Motupalli, CMD of NLC India, announced that the company has already started projects to add 2 GW of renewable capacity. These projects include 600 megawatts (MW) in Gujarat, 800 MW in Rajasthan, and a combination of 50 MW of wind and 300 MW of solar power in Gujarat.

NLC India has also set up a wholly-owned subsidiary, NLC India Renewable Energy, to manage the monetisation of its renewable assets. Motupalli explained that the company is in the process of transferring these assets of 1.4 GW to the subsidiary, with plans for monetisation likely by Q4FY25 (January-March 2025) or Q1FY26 (April-June 2025).

According to NLC India’s April-June 2025 business update, lignite production grew 22% year-on-year (YoY) to 61.72 lakh tonnes compared to 50.54 lakh tonnes. Coal production rose by 35% YoY, from 21.04 lakh tonnes to 28.46 lakh tonnes. Gross power generation jumped 10% over last year.

The company has set a revenue target of ₹15,000 crore for the year, with margins expected to be in the mid-30s. Motupalli noted that the upcoming Ghatampur Thermal Power Station, scheduled to be commissioned within the current financial year, will enhance the company’s regulated equity from ₹9,000 crore to nearly ₹12,000 crore. With further additions in mines and power generation capacity, NLC India aims to achieve a regulatory equity of ₹23,500 crore by 2030.

NLC India’s current market capitalisation is ₹36,052.55 crore. Its shares have gained 136% over the last year.