Lignite and power major NLC India Ltd (NLCIL) proposes to raise up to $600 million foreign currency loan through external commercial borrowings (ECBs), the company said in a communique to stock exchanges.
It will also seek external assistance from the Multilateral Development Bank (MDBs) through the Department of Economic Affairs (DEA) for upcoming Renewable Power Projects.
The company has formed a subsidiary – NLC India Renewables Ltd - to focus on the renewable energy business as the company has planned to increase its power generation capacity from 6 GW now to 17 GW, including 6 GW of renewables, by 2030. The company’s operational renewable power capacity is about 1431 MW.