Cabinet Approves Investment Exemption for NLCIL to Boost Renewable Energy
The Cabinet Committee on Economic Affairs has granted NLC India Limited (NLCIL) an exemption from investment guidelines, allowing it to invest Rs.7,000 Crore in its subsidiary, NLC India Renewables Limited (NIRL). This move aims to support NLCIL's goal of developing 10.11 GW of renewable energy capacity by 2030 and 32 GW by 2047, aligning with India's COP26 commitments for a low-carbon economy. The initiative is expected to enhance India's green energy leadership, reduce fossil fuel dependence, and create significant employment opportunities.
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