NLC India and IOCL Join Forces to Develop Large Scale Renewable Energy Projects in Tamil Nadu
NLC India Limited (NLCIL) has signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) to establish a Joint Venture (JV) focused on developing large scale Renewable Energy (RE) projects across the state of Tamil Nadu. This partnership aims to strengthen India's clean energy transition and support sustainable development through green power generation.The MoU was finalized on June 20, 2026, in New Delhi. The agreement involves both companies in developing RE projects that incorporate solar, wind, and hybrid power solutions, including or without various forms of energy storage. These projects will cater to diverse needs, such as supplying renewable power to third party Commercial and Industrial (C&I) consumers, Discoms, the energy exchange, and applications like e-mobility and the production of green synthetic fuels/chemicals. The scope also includes any other opportunities in Tamil Nadu's renewable energy sector that are mutually agreed upon and deemed techno-commercially feasible.
The collaboration leverages NLCIL's extensive background as a Navratna Central Public Sector Enterprise, which boasts nearly seven decades of presence in mining and power generation. While strengthening its conventional portfolio, NLCIL has actively expanded into large-scale 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 and Managing Director of NLC India Limited, stated that the partnership with IOCL is a significant milestone in NLCIL’s strategic diversification into clean and sustainable energy sectors. He emphasized the development of Renewable Energy Projects utilizing various technologies, including Solar, Wind, Hybrid, Battery Energy Storage System / Pumped Hydro Storage, Green Hydrogen, and any emerging RE technology in the future.
This strategic alliance between NLCIL and IOCL represents a major step toward strengthening India’s clean energy ecosystem, reflecting both organizations' shared commitment to technological advancement and nation-building through reliable and green energy solutions.
NLCINDIA Stock Price Movement
NLC India Limited shares today slipped by 0.23% after closing at ₹327.15, declining from its previous close. The stock traded amidst significant activity, with a volume of 4.29 million shares and touching a daily low of ₹319.80.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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