The Cabinet Committee on Economic Affairs CCEA has approved a special exemption for NLC India Limited (NLCIL) from the prevailing investment guidelines applicable to Navratna Central Public Sector Enterprises. Briefing the media about the cabinet decisions, Information and Broadcasting Minister Ashwini Vaishnaw said, this strategic decision enables NLCIL to invest seven thousand crore rupees in its wholly owned subsidiary, NLC India Renewables Limited. He said, the exemptions aim to support NLCIL’s ambitious target of developing 10 GigaWatt of Renewable Energy capacity by 2030. Mr Vaishnaw highlighted that India has crossed 50 per cent landmark in green energy capacity and India is on track to fulfil its commitment under COP26.

The CCEA has also approved enhanced delegation of power to NTPC from the extant guidelines of delegation of power to Maharatna Central Public Sector Enterprises. It will enable NTPC to invest in NTPC Green Energy Limited (NGIL). NTPC’s subsidiary company NGIL is subsequently investing in NTPC Renewable Energy Limited and its other Joint Ventrues. This is beyond the earlier approved prescribed limit of seven thousand 500 crore rupees upto an amount of 20 thousand crore rupees for renewable energy capacity addition to achieve 60 Giga Watt renewable energy capacity by 2032. The Minister said, the enhanced delegation given to NTPC and NGEL will facilitate accelerated development of renewable projects in the country.