PM Lays Foundation Stone of Solar Power Plant in Rajasthan | 20 Feb 2024

Why in News?

Recently, Prime Minister Narendra Modi laid the foundation stone for NLC (Neyveli Lignite Corporation Limited) India Ltd 300-mw solar power project in Barsingsar, Rajasthan.

  • NLC India is a navratna company under the coal ministry.

Key Points

  • The total cost of NLC India's solar project is estimated at Rs 1,756 crore and it is scheduled to be commissioned in September 2024.
  • The project is strategically located near the existing Barsingsar Thermal Power Station which offers advantages in power evacuation through the existing network and utilisation of common infrastructure facilities.
    • The project will not only give green and cheap power to the region but also provide great employment opportunities to the youth.

Navratna Company

  • Central Public Sector Enterprises (CPSEs) are classified into 3 categories- Maharatna, Navratna and Miniratna.
    • As of 2023, there are 13 Maharatna, 16 Navratna and 68 Miniratna CPSEs.
  • Navratna Companies in India are a group of CPSEs that have enhanced financial autonomy and flexibility to compete in the global market. They are given certain privileges, such as investing up to Rs 1,000 crore without explicit government approval.
  • The Navratna status was first introduced in 1997.
    • To attain Navratna status, a firm must initially hold the Miniratna designation and it needs to achieve a score of 60 or more (out of 100) according to six performance criteria, which include metrics like Net Profit to Net Worth, Earnings per Share, and Inter-Sectoral Performance.