4,640-Megawatt capacity and 150 per cent returns: This multibagger mining & power company bags new order for 810-Megawatt Solar photovoltaic power project!

Shares of the company grew by more than 70 per cent in the last six months.

NLC India Limited (NLCIL) has won a tender from Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) to develop an 810 MW solar photovoltaic power project in the 2000 MW Pugal Solar Park in Rajasthan. NLCIL will be the successful bidder for the entire capacity at a tariff of Rs 2.64 per unit.

This project will offset carbon emissions to the tune of 46,628.56 tons over its lifetime, generating approximately 48,170.00 million units of electricity. NLCIL currently has an installed renewable energy capacity of 1431.06 MW, with 2110 MW of additional projects in the pipeline. The company plans to develop a total renewable energy capacity of 6031 MW by 2030.

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Recently, NLC India Limited (NLCIL) and GRIDCO Limited have signed a Power Purchase Agreement (PPA) for 800 MW of thermal power from NLCIL's proposed Neyveli Talabira Super Critical Thermal Power Station (NTTPP) in Odisha. This agreement ties up the full capacity of 2400 MW for Stage 1 of the NTTPP.

NLC operates lignite and coal mines and thermal power stations in Neyveli and Tuticorin (NTPL) in Tamilnadu and Barsingsar, Rajasthan and Orissa. It sells power to the state utilities of Tamil Nadu, Telangana, Rajasthan, Andhra Pradesh, Kerala, Karnataka and the Union Territory of Puducherry. The company has four lignite mines and one coal block with a combined mining capacity of 52.1 MTPA, and six thermal power stations with a combined generation capacity of 4,640 MW.

The shares of the company have gained about 150 per cent in the last three years and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.