NLCIL inks MoU with NIWE for collaboration in developing onshore and offshore wind power projects in India

NLC India Ltd (NLCIL) has entered into a Memorandum of Understanding (MoU) with National Institute of Wind Energy (NIWE), an autonomous R&D institution under the Ministry of New and Renewable Energy (MNRE), for Strategic Collaboration in developing onshore and offshore wind power projects in India.

The MoU was signed & exchanged by Shri. K. Mohan Reddy, Director (Planning & Projects), NLCIL and Dr. K. Balraman, Director General (NIWE) in the august presence of higher officials of NLCIL & NIWE on 19.10.2022 at NIWE office, Pallikaranai, Chennai.

MoU was signed between NLCIL & NIWE for the purpose of carrying out collaborative technical services and advisories for the development of onshore and offshore wind energy projects.

In the presidential address through virtual mode, Shri. Rakesh Kumar, CMD, NLCIL has thrown light on NLCIL's Vision and Corporate Plan with regard to Renewable Energy projects. Dr. K. Balraman, Director General NIWE in his address highlighted the importance of RE resource assessment considering its economic impact, on the project. Director (P&P), NLCIL highlighted the RE project capabilities of NLCIL.

NLCIL has taken the above initiative to contribute towards the National Green Energy targets and Energy Transition goal. This MoU is aimed at synergizing the technical expertise of NIWE and the project development capabilities of NLCIL.

Through the MoU, it is also envisaged to reap the benefit of repowering the operating wind turbines and for better O&M practices in the Upcoming and operating Wind Power Projects. In addition to the above, NIWE will offer competence building training for NLCIL in the recent developments in RE sector.

This MoU is expected to contribute to the Nation's Growth through RE capacity addition.

Shares of NLC India Limited was last trading in BSE at Rs. 69.85 as compared to the previous close of Rs. 71.60. The total number of shares traded during the day was 154225 in over 2042 trades.

The stock hit an intraday high of Rs. 71.45 and intraday low of 69.55. The net turnover during the day was Rs. 10848805.00.

Source : Equity Bulls

Keywords

NLCIndia INE589A01014 MoU NationalInstituteofWindEnergy StrategicCollaboration