NLC India Limited (NLCIL) has signed a joint venture agreement (JVA) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) to set up a 3×125 MW lignite-based thermal power station in Rajasthan and develop mines to provide fuel for the plant.
The initial paid-up capital for the project will be Rs 500,000, with NLCIL holding 74 per cent of the shares and RVUNL holding 26 per cent. Additionally, NLC India Renewables Limited, a wholly-owned subsidiary of NLCIL, has signed a JVA with RVUNL to develop 2,000 MW of renewable power projects in Rajasthan.