The Cabinet Committee on Economic Affairs (CCEA) has approved a special exemption allowing NLC India Limited (NLCIL) to invest Rs 70 billion in its wholly owned subsidiary, NLC India Renewables Limited (NIRL) without seeking prior approvals under existing centeral public sector enerprises (CPSE) investment guidelines.
The exemption also waives the 30 per cent net worth ceiling for CPSEs investing in joint ventures and subsidiaries. The investment supports the transfer of NLCIL’s 2 GW of renewable assets to NIRL and will enable participation in future bids and joint ventures.