NLC India Ltd, a Navratna company under the Ministry of Coal, is planning to invest over Rs 43,000 crore in various power and mining projects. The new projects will add 3,920 megawatts (MW) of power, including 1,000 MW of solar, and 11.50 MTPA of mining capacity to the company.
In 2019-20, the Company added 1209 MW and 17.5 MW on June 30, 2020 and retired 400 MW to its installed capacity. With this addition and retirement, the total installed capacity has become 4661.06 MW.
The proposed new projects include a 3X800 MW power plant at Odhisha, a 2X800 MW plant thermal power plant, 2X660 MW plant at Neyveli, 1000 MW solar power project, and an 11.50 MTPA mining project at Neyveli, according to the company’s annual report.
It may be noted, the company signed a JV agreement with Coal India Ltd (CIL) to set up 5000 Mw of solar and thermal projects.
These projects are expected to commence between 2023 and 2027.
Commissioning of the entire 709 MW solar power projects in Tamil Nadu. With the completion of this project, the company has become the first CPSE in the country to achieve solar power generation capacity of more than one GW. A 20MW solar power project in Andaman & Nicobar Island in which 2.5MW was commissioned in December 2018 and the balance 17.5MW was commissioned on June 30, 2020.
Meanwhile, the company has decided to put 500 MW capacity projects and 7 MTPA mining projects on hold. The power projects were supposed to come at Rajasthan, while the mining projects were supposed to come in Tamil Nadu and Rajasthan. The company did not disclose reasons.
On the performance, during the year, the total power generation (gross) of 21922.98 million units and power export of 18840.84 MU have been achieved in spite of the power surrender of 1945.71 MU witnessed from state DISCOMs.
The average Plant Load Factor (PLF) of the thermal power plants of the company as a whole during the year 2019-20 was 70.22 per cent as against the national average of 55.99 per cent. During the year 2019-20, DISCOMS had surrendered 1945.71 MU as against 1891.47 MU during 2018-19 and considering this power surrender the overall power generation would have been still higher.
In 2019-20, NLC Ltd had reported revenue at Rs 7,916.30 crore as against Rs 7,145.92 crore in 2018-19.The Profit Before Tax (PBT) and Profit After Tax (PAT) in 2019-20 were Rs 2,204.59 crore and Rs 1,413.85 crore respectively.