Government-owned National Aluminium Corporation (NALCO) is planning to set up 150 megawatts renewable energy project.
The Minister for Power, Coal and New & Renewable Energy in India recently announced that NALCO is looking to set up the project in the state of Odisha. The company is currently looking for a suitable project site and wants land allocation by the state government to be expedited.
The renewable energy park is expected to host solar as well as wind energy projects. NALCO operates several aluminium plants into Odisha and the power generated from the renewable energy park will likely be used for captive use. This will help the company meet its renewable purchase obligation.
India aims to have at least 15% of its total electricity consumption coming from renewable energy sources by 2022, including 8% from solar energy only.
Several government-owned companies are looking for develop renewable energy projects following a diktat from the central government. The long list of such companies include Coal India, NTPC, Indian Railways, NLC, Indian Oil Corporation and Oil India.
Last year, NALCO had announced plans to invest Rs 700 crore in renewable infrastructure. The company already operates wind energy projects in Rajasthan and Andhra Pradesh.