The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Wednesday granted NLC India Ltd (NLCIL) a special exemption to invest Rs 7,000 crore in its wholly owned subsidiary, NLC India Renewables Limited (NIRL).

The decision bypasses existing investment guidelines for Navratna Central Public Sector Enterprises (CPSEs), enabling NIRL to fund various renewable energy projects directly or through joint ventures without requiring prior approvals.

This strategic move aims to bolster India’s renewable energy sector, allowing NLCIL to channel significant resources into sustainable initiatives. The investment is expected to accelerate NIRL’s growth and support the government’s push for clean energy development.

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