NLC India launches its green arm, NIGEL
NLC India Ltd, India's public sector company, under the Ministry of Coal has launched its green arm, NLC India Green Energy Limited (NIGEL) with a focus on taking up all renewable energy initiatives and related business activities.
A wholly owned subsidiary of NLC India, NIGEL held its first board meeting on Sunday (Oct.22) announcing appointments to key managerial positions and adopted a logo for the newly launched company.
"The new company with focused attention on renewable energy projects will help in increasing the RE power generation capacity faster. With the industry climate very optimistic, the growth of RE including storage systems like pumped hydro system and battery energy storage systems will happen concurrently," said Prasanna Kumar Motupalli, the Chairman of NIGEL while releasing the new company's logo.
He further added that as per the Optimal Energy Mix Report 2030 of the Central Electricity Authority (CEA), Ministry of Power, the envisaged BESS on the grid is about 41.65GW and this provides a great opportunity for storage system development.
NIGEL is expected to establish RE projects to the capacity of 6GW by 2030 and projects of 2GW are being developed at various parts of the country, stated the Ministry of Coal in an official release.