New Delhi, July 16 -- The Cabinet Committee on Economic Affairs, chaired by the Prime Minister, has approved a special exemption for NLC India Limited (NLCIL) from the prevailing investment guidelines applicable to Navratna Central Public Sector Enterprises (CPSEs), said CCEA in a statement.

This strategic decision enables NLCIL to invest Rs 7,000 Crore in its wholly owned subsidiary, NLC India Renewables Limited (NIRL), and in turn, NIRL invests in various projects directly or through the formation of Joint Ventures, without the requirement of prior approval under the existing delegation of powers.

This investment is further exempted from the 30 per cent net worth ceiling stipulated by the Department of Public Enterprises (DPE) for ove...