NLC India-Coal India Limited to invest in 3 GW of solar power projects

NLC India Limited and Coal India Limited have formed a joint venture (JV) which will invest in solar power generation projects of 3,000 MW capacity.

The 50:50 joint venture company, Coal Lignite Urja Vikash Private Limited will need an investment of about Rs 125 billion for the project. NLC India has already invested Rs 0.1 million as its share of equity. The debt equity ratio will be 70:30. Coal Lignite Urja will also venture into thermal power generation projects.

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