Coal Mining PSU: NLC India shares surge over 8 pc; Firm plans to achieve 10GW energy capacity by 2030
NLC India stock surged 3.55% on February 18, 2025, closing at Rs 225.50. The stock reached an intraday high of Rs 218.4 due to plans to expand renewable energy capacity from 1.4 GW to 10 GW by 2030.
PSU stock: NLC India, a prominent player in the power generation and distribution sector, has shown significant activity today, gaining 3.55% on February 18, 2025. This performance has allowed the stock to outperform its sector by 5.58%.
During today's trading session, the stock reached an intraday high of Rs 218.4, reflecting a rise of 4.82%, and currently at the time of closing the shares were trading above 8.3 percent at Rs 225.50.
This share surge is due to the Coal mining company’s planning to raise its renewable energy capacity significantly, from 1.4 GW to 10 GW by 2030, an almost sevenfold increase.
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Additionally, the company plans to launch an Initial Public Offering (IPO) for its renewable energy subsidiary in the latter half of FY26, as stated by Chairman and Managing Director Prasanna Kumar Motupalli.
Currently, NLC India’s renewable portfolio consists of 50 MW of wind power, with the remainder coming from solar projects, primarily located in Tamil Nadu.
To meet its ambitious goal, the company is advancing key solar projects, including a 300 MW installation in Barsingsar, Rajasthan, a 600 MW project at Khavda Solar Park, and another 800 MW capacity addition in Rajasthan.
With this, NLC is developing thermal projects such as Ghatampur and Talabira and for that the company plans to raise Rs 5,000 crore through overseas borrowings to refinance high-cost loans.
Read Also : Coal Mining PSU: NLC India shares surge over 8 pc; Firm plans to achieve 10GW energy capacity by 2030Additionally, a joint venture in Assam has been formed, with NIRL holding a 51 percent stake and APDCL 49 percent, to develop 1,000 MW of solar projects.
Moreover, the board has approved raising up to USD 600 million (approximately Rs.5,000 crore) through External Commercial Borrowings (ECB) in foreign currency, depending on business requirements. The funding will be secured via the direct route, in compliance with Reserve Bank of India (RBI) guidelines.
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