The National Aluminium Company (Nalco) and NLC India Ltd (NLCIL) have signed a joint venture agreement to establish a 1,080 MW captive thermal power plant in Angul, Odisha.
The project will be developed through a 50:50 joint venture and will consist of four units of 270 MW each. This project is aimed at supporting the aluminium capacity expansion of Nalco.
The Union Cabinet has approved a new Scheme for Promotion of Surface Coal/Lignite Gasification Projects with a total outlay of ₹37,500 crore. The initiative, structured under the National Coal Gasification Mission launched in 2021, aims to boost clean energy production and reduce reliance on imports of Liquefied Natural Gas (LNG), urea, and methanol.
The scheme provides financial incentives of up to 20% of the cost of plant and machinery, disbursed in 4 equal installments linked to project milestones. the coal linkage tenure has been extended to a maximum of 30 years under the ‘Production of Syngas leading to Coal Gasification’ sub-sector in the Non-Regulated Sector (NRS) linkage auction framework.
The centre has capped the financial incentive at ₹5,000 crore for any single project, ₹9,000 crore for any single product (excluding Synthetic Natural Gas (SNG) and urea), and ₹12,000 crore for any single entity group across all projects.