NLC India raises Rs 500 crore via issuance of commercial papers
State-owned NLC India Ltd on Wednesday said it raised Rs 500 crore by issuing commercial papers. Commercial papers are short-term, unsecured debt obligations issued by institutions and corporations as an alternative to more expensive funding methods.
The issuance comes as NLC India plans to invest Rs 1.25 lakh crore by 2030 to expand its capacity. In a filing to BSE, the company said that 10,000 commercial papers of a “face value of Rs 500,000 each, aggregating to Rs 500 crore have been issued and allotted,” on September 22.
NLC India Limited (NLCIL), a Navratna public-sector enterprise under the coal ministry, has an installed power-generation capacity of 8,405 MW and mining capacity of 59.1 million tonnes per annum (MTPA).
To support India’s growing electricity needs sustainably, the company is expanding its mining operations through responsible practices while modernising its power-generation portfolio.
NLCIL plans to raise its total mining capacity to 104.35 MTPA by 2030 and further to 115.85 MTPA by 2047, helping reduce the country’s dependence on imported coal.
NLCIL is also accelerating its clean-energy transition through its dedicated green subsidiary NLC India Renewables Limited (NIRL).
The company aims to expand its operational renewable-energy capacity from 1.8 GW currently to more than 10 GW by 2030, and to 32.7 GW by 2047.
This expansion is expected to raise the share of clean energy to 50 per cent of NLCIL’s overall generation mix well ahead of schedule.
