NCL Industries to Launch Massive ₹919 Crore Solar and Wind Power Project in Tamil Nadu

NCL Industries Limited (NSE: NCLIND / BSE: 502168) has announced a major strategic shift toward renewable energy. Following a Board of Directors meeting held today, the company confirmed plans to implement a 130 MW Solar and Wind Power Project in Tuticorin, Tamil Nadu.

The project represents a significant leap from the company's existing 15.75 MW hydro-power capacity and is aimed at meeting captive energy needs while exploring commercial power sales.

Phase 1 Implementation and Financials

The Board has sanctioned the immediate rollout of Phase 1, which includes 50 MW of the total 130 MW capacity.

Phase 1 Estimated Cost: ₹392 Crores.

Total Project Investment: ₹919 Crores.

Funding: The project will be financed through a combination of debt and internal accruals.

Timeline: The full capacity is scheduled for commissioning by February 2028.

This initiative includes the development of critical infrastructure for power evacuation and transmission in coordination with the Central Transmission Utility of India Limited (CTUIL). The remaining 80 MW of the project will be developed in subsequent stages.

Strategic Rationale

By establishing a large-scale hybrid renewable plant, NCL Industries aims to:

Captive Power: Secure a steady and cost-effective power supply for its own industrial operations.

Revenue Diversification: Sell surplus power through energy exchanges and third-party Power Purchase Agreements (PPAs).

Sustainability: Drastically increase its green energy footprint in alignment with national environmental goals.

Shares of NCL Industries Limited was last trading in BSE at Rs. 184.30 as compared to the previous close of Rs. 181.15. The total number of shares traded during the day was 724 in over 136 trades.

The stock hit an intraday high of Rs. 186.10 and intraday low of 176.85. The net turnover during the day was Rs. 131767.00.

Source : Equity Bulls

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NCLIndustries INE732C01016 Solar WindPower