NLC India Limited, a Navratna PSU under the Ministry of Coal, has approved a major investment of up to Rs 1,630.89 crore in its wholly owned subsidiary, NLC India Renewables Limited (NIRL), to fund green energy projects. The decision was taken at the company’s board meeting held on July 7, 2025.

The investment will be made in one or more tranches through subscription of equity shares at face value, subject to approvals from DIPAM and other authorities.

In a parallel move to support its renewable energy expansion, the board also approved borrowing a term loan equivalent to USD 100 million in Japanese Yen through External Commercial Borrowing (ECB) from Sumitomo Mitsui Banking Corporation (SMBC). The funds will be used for capital expenditure in renewable projects undertaken by NLC’s subsidiaries and group companies.

Additionally, the board appointed Sundaram & Srinivasan, Chartered Accountants, as the company’s Tax Auditors for the financial year 2024–25. The Chennai-based firm, established in 1943, brings over 80 years of audit and advisory experience.

The board meeting commenced at 5:00 PM and concluded at 6:30 PM. Further details are available on the company’s website.