NLC India Ltd. has signed a power usage agreement for 200 megawatts of solar power with Telangana distribution companies for 25 years at a competitive and affordable price under the Central Public Sector Undertaking Scheme.
The PSU's solar project will generate around 1,300 crore units of green power and offset 90 lakh tonnes of carbon emissions in its lifetime. It is set to be commissioned by next June, according to an exchange filing on Wednesday.
The project will make use of state-of-the-art equipment, including single-axis trackers and domestically produced high-efficiency modules, to achieve higher power generation under the self-reliant India initiative, it said.
From more than three decades, NLC has been supplying more than 234 MW of affordable thermal power to the state and this association in renewables marks the start for both Telangana and NLC towards a sustainable future, according to the filing.
Shares of NLC closed 1.2% lower at Rs 276.15 apiece on the BSE, compared to a 0.09% advance in the benchmark Sensex.
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