NLC India Limited’s wholly-owned subsidiary, NLC India Renewables Limited (NIRL), has been declared a successful bidder for a 100 MW wind power project by Gujarat Urja Vikas Nigam Limited (GUVNL). NIRL has also accepted a Greenshoe option for an additional 100 MW and a further additional Greenshoe capacity of 100 MW, aggregating to a total capacity of 300 MW. NIRL has received a Letter of Intent (LoI) for these projects, marking a significant expansion in renewable energy capacity.
Subsidiary Secures Major Renewable Energy Contract
NLC India Limited has announced that its wholly-owned subsidiary, NLC India Renewables Limited (NIRL), has been successful in a competitive bidding process floated by Gujarat Urja Vikas Nigam Limited (GUVNL). The tender was for the procurement of power through a competitive bidding process from 250 MW Grid-Connected Wind Power Projects (Phase XI), with an option for additional capacity.
Expanded Capacity Through Greenshoe Option
NIRL has been declared a successful bidder for an initial capacity of 100 MW. Furthermore, the subsidiary has accepted the Greenshoe option for an additional 100 MW and a further additional Greenshoe capacity of 100 MW. This brings the total aggregated capacity secured to an impressive 300 MW.
Letter of Intent Received
In connection with this successful bid, NIRL has officially received the Letter of Intent (LoI) from GUVNL. This LoI confirms the award for the development of the aforementioned 300 MW Wind Power Projects. This development signifies a substantial growth in NLC India’s renewable energy portfolio and its contribution to Gujarat’s power sector.
Source: BSE
