NLCIL aims a scale up to 17 GW energy production by 2030: CMD

NLCIL aims to boost power generation and mining capacity, diversify into renewables, and achieve sustainable growth by 2030.

The NLCIL aims to scale up the installed power generation capacity, including renewable energy, to more than 17 GW by 2030, Prasanna Kumar Motupalli, NLCIL Chairman and Managing Director (CMD) said.

Addressing the 68th Raising Day of NLCIL after garlanding the statue of freedom-fighter and philanthropist Jambulinga Mudaliar in the Neyveli township and hoisting the company flag, Mr. Motupalli said the NLCIL was also striving to boost mining capacity to more than 102 Million Tonnes Per Annum (MTPA) over the next five to six years.

According to Mr. Motupalli, the NLCIL is poised to transform into an integrated energy company by diversifying into renewable projects (solar and wind), Energy Storage Systems (ESS), green hydrogen, pumped storage hydro projects, lignite to methanol processing, mine overburden-to-sand extraction and critical mineral exploration for sustainability.

He also highlighted the results of the last Financial Year 2023-24, where NLCIL achieved an increase of 48% Profit After Tax (PAT) to Rs. 1,847 crore and an increase of 31% in consolidated PAT to 1,868 crore. This was in addition to record levels of coal and lignite production, he added.

The CMD noted that the rededication to core values through introduction of “Idea Generation Scheme” and “NLCIL COMMITS created a new synergy to the work culture in the company. In addition to a clutch of awards won in areas of productivity, management, CSR and environmental sustainability, the sharing of NLCIL’s fire mock drill video on the Ministry of Coal’s social media handles was reinforcement of the safety standards practiced in NLCIL.

On the occasion, Mr. Motupalli honoured 10 elderly retired employees of NLCIL with a shawl and a gift hamper as a mark of recognition of their contribution.

Awards were also distributed under various categories. A Corporate Identity Manual, which lays down the guidelines for maintaining consistency and strong corporate identity, and a book on Environment, Social and Governance (ESG) containing the environmental and social standards practiced in NLCIL since its inception, were also released during the function.