NLC India has incorporated a joint venture company named NIRL OREDA Renewables Limited with the Odisha Renewable Energy Development Agency (OREDA). The Ministry of Corporate Affairs issued the Certificate of Incorporation on August 31, 2026.

Joint venture details

The new entity is a collaboration between NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India Limited, and OREDA. The joint venture is structured with an equity participation of 51:49, with NIRL holding the majority stake. The primary objective of the company is the setting up of green energy power plants.

Strategic significance

This incorporation formalizes the institutional collaboration previously announced between the central public sector enterprise and the state-level renewable energy agency. By establishing a dedicated corporate vehicle with a clear majority stake, NLC India positions itself to lead the development of renewable energy assets in Odisha, leveraging OREDA's role as the nodal agency for renewable energy promotion in the state.

NLC India has entered into a joint venture with the National Capital Region Transport Corporation Limited (NCRTC) to develop a 110 MW solar power project in Uttar Pradesh. The agreement was executed on August 29, 2026, marking a strategic expansion into renewable energy infrastructure through a wholly owned subsidiary.

The joint venture company, NIRL NCRTC Renewables Limited (NNRL), will hold equity participation of 74% by NLC India Renewables Limited (NIRL) and 26% by NCRTC. NIRL is a wholly owned subsidiary of NLC India Limited. The project aims to generate renewable energy for captive consumption within the transport sector.

Deal Structure and Terms

The Power Purchase Agreement (PPA) mandates that NCRTC will procure the generated power under a captive mode for a period of 25 years. The scheduled commissioning date is set within 24 months from the signing of the PPA. The project has an annual energy generation requirement of 180 MU.

Regulatory Disclosure

The intimation was issued under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Sushanta Kumar Panda, Company Secretary and Compliance Officer, signed the disclosure filed with the National Stock Exchange of India Ltd and BSE Ltd.

What the Numbers Show

The equity structure indicates a dominant operational role for NLC India’s subsidiary, holding nearly three-quarters of the stake. The long-term 25-year PPA provides a stable off-take arrangement, reducing revenue uncertainty for the joint venture entity over its initial operational life.