Neyveli Lignite Corporation, a government-owned lignite mining and power generating company, is planning to invest over Rs 500 crore in various renewable energy projects. The company plans to set up over 80 MW of wind and solar energy projects.
The board has approved the 25 MW solar power project at Neyveli, Tamil Nadu, the company informed. The company said that of the 25 MW, 10 MW will be installed in an area of about 54 acres in first phase and another 15 MW as an expansion in the second phase.
BHEL, Chennai has been awarded the contract for setting up the power project at a cost of Rs 74.60 crore, which includes operation and maintenance for three years after the warranty period. The project is scheduled to be completed within 9 months from the date of LOA.
A proposal to set up a solar power plant of 10 MW capacity at Barsingsar, Rajasthan at an estimated cost of Rs 92.83 crore is also under consideration, according to company's Annual Report 2013-14.
Neyveli has also obtained approval for setting up a 51 MW wind power project at Kazhuneerkulam, Tirunelveli district at an aggregate cost of Rs 347.14 crore.
The company said that both the renewable projects have been notified for prior consideration of CDM to United Nations Framework Convention on Climate Change (UNFCCC).
