Chennai: NLC India Ltd has approved two joint ventures with Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RVUNL) to establish a lignite-based thermal power plant in Rajasthan and develop renewable energy projects with a capacity of up to 2,000 MW.
The thermal power project includes the development of lignite mines to meet the plant’s fuel requirements, while the renewable energy projects will be executed through NLC India Renewables Ltd, a wholly-owned subsidiary of NLCIL. Both ventures are subject to approval from the Government of India and other regulatory authorities.
NLCIL will hold a 74% stake in each venture, with RVUNL holding the remaining 26%. The initial paid-up capital for the ventures is set at Rs 5,00,000, with equity shares issued at a face value of Rs 10 each. NLCIL will appoint four directors to the joint venture company, while RVUNL will nominate two directors.
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