NCL Industries Limited has approved the implementation of the first 50 MW phase of its proposed 130 MW solar and wind power project at Tuticorin in Tamil Nadu, following connectivity approval from the Central Transmission Utility of India Limited.
The first phase involves an investment of about Rs 3.92 billion and will be funded through a mix of debt and internal accruals, while the total project cost is estimated at around Rs 9.19 billion. The project’s connectivity is expected to commence in February 2028. NCL Industries plans to use the project to meet captive power requirements and to sell electricity through exchanges and third-party power purchase agreements.