NLC India Ltd Signs MoU with Indian Oil Corporation Ltd for renewable energy projects

In a significant step towards strengthening India's clean energy transition and supporting the nation's vision of "Viksit Bharat" and Net Zero Carbon, NLC India Limited (NLCIL) has signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) for formation of a Joint Venture (JV) for establishment of Renewable Energy Power Projects in the State of Tamil Nadu.

The MoU was signed on 220 June, 2026 at New Delhi, by Shri Anurag Mittal, Chief General Manager, Commercial and Business Development, NLCIL and Shri Manoj Nanda, Chief General Manager, Alternate Energy, IOCL, in the august presence of Dr. Prasanna Kumar Acharya, Director (Finance)/NLCIL, Shri Suman Kumar, Director (P&BD)/IOCL, Shri Joydeep Chaudhary, ED/IOCL, Shri Devendra Pratap Singh, ED/PBD/NLCIL for the development of large scale Renewable Energy (RE) projects including Solar, Wind, Hybrid Power with or without Energy Storage such as Battery Storage and Pumped Storage Projects or any combination of the same for supply of renewable power to third party, Commercial and Industrial (C&lI) consumers, Discoms, energy exchange, for e-mobility, power to applications such as usage/ production of green synthetic fuels/chemicals, complete value chain for solar module manufacturing etc. and any other opportunity in the renewable energy sector in the State of Tamil Nadu, as mutually agreed and based on techno-commercial feasibility.

NLC India Limited, a Navratna Central Public Sector Enterprise under the administrative control of the Ministry of Coal, Government of India, has nearly seven decades of distinguished presence in mining and power generation. While strengthening its conventional power portfolio, NLCIL has also been actively expanding into large-scale renewable and green energy initiatives including solar, wind, pumped hydro storage, Battery Energy Storage Systems (BESS), green hydrogen, low-carbon round-the-clock power and waste-to-energy projects.

Speaking on the occasion, Shri Prasanna Kumar Motupalli, Chairman & Managing Director, NLC India Limited, stated that the partnership with IOCL marks a significant milestone in NLCIL's strategic diversification into clean and sustainable energy sectors and emphasised on development of Renewable Energy Projects using various technologies for Solar, Wind, Hybrid, Battery Energy Storage System / Pumped Hydro Storage, Green Hydrogen and any new potential RE Technology emerging in future.

The strategic collaboration between NLCIL and IOCL marks a major milestone in strengthening India's clean energy ecosystem and reflects the shared commitment of both organisations towards sustainable development, technological advancement and nation-building through reliable and green energy solutions.

Shares of NLC India Limited was last trading in BSE at Rs. 327.25 as compared to the previous close of Rs. 321.65. The total number of shares traded during the day was 145951 in over 2307 trades.

The stock hit an intraday high of Rs. 329.30 and intraday low of 318.45. The net turnover during the day was Rs. 47564411.00.

Source : Equity Bulls

Keywords

NLCIndia INE589A01014 MoU IndianOilCorporation RenewableEnergyProjects