NLC India has inked a long-term pact with Rajasthan Urja Vikas Nigam to supply 300 megawatts (MW) of solar power to the state of Rajasthan for the next 25 years.

Through this project, the government of Rajasthan aims to fulfil its state commitment towards Renewable Purchase Obligation objectives. It will help reduce the carbon emission by 0.726 million tonnes of carbon dioxide annually.

The project aims to generate 750 million units of power, of which the entire green energy will be supplied to the state of Rajasthan.

The company said in a regulatory filing that the 300 MW solar project is under execution at Barsingsar in the Bikaner District of Rajasthan.

The company added that it had secured a 510 MW Solar Project capacity in the CPSU Scheme Phase 11 Tranche-III floated by the Indian Renewable Energy Development Agency through competitive bidding.

NLC India has reported a 27% decline in its net profit at Rs 413.57 crore, along with a 14% decrease in its revenue from operations at Rs 3,316.5 crore for the April-June quarter of the current fiscal year.

On the renewable energy front, in addition to the present 1,421 MW of renewable energy capacity, the company plans to reach a capacity of 6,031 MW by 2030.

At 12:30 pm, the shares of NLC India were trading at Rs 126.15 or 0.68% above its previous close on NSE.