NLC India's board has approved an investment of approximately Rs 1,630.89 crore in its wholly-owned subsidiary, NLC India Renewables Ltd (NIRL). This investment will be made through equity infusion in one or more tranches.

The primary purpose of this investment is to fund NIRL's upcoming green energy projects.
In addition to this equity infusion, NLC India's board also approved securing a term loan in Japanese Yen equivalent to $100 million through external commercial borrowing (ECB) from Sumitomo Mitsui Banking Corporation (SMBC). 

These borrowed funds will also be used for capital expenditure in renewable energy projects undertaken by NLC's subsidiaries and group companies.

NIRL has already received a Letter of Award (LoA) for developing three standalone battery energy storage system (BESS) projects with an aggregate capacity of 250 MW/500 MWh in Tamil Nadu, and has signed an MoU for RE projects in Maharashtra through a joint venture. It has also secured a power purchase agreement for its 810 MW Solar Power project in Rajasthan.