NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India , has signed a Joint Venture Agreement with OREDA Ltd to establish, operate, and maintain 1000 MW of green energy projects in Odisha. The agreement, signed on June 23, 2026, marks a significant step towards strengthening India's clean energy transition and supporting the nation's vision of "Viksit Bharat" and Net Zero Carbon. The initial phase focuses on the development of 1000 MW capacity, with provisions for forward and backward integration into other green energy assets and ancillary activities within the state.

The Joint Venture Agreement was executed by Shri Devendra Pratap Singh, Chief Executive Officer of NIRL, and Shri Saidutta Biplab Keshari Pradhan, Special Secretary to the Government of Odisha and CEO of OREDA. The ceremony was attended by Shri Kanak Vardhan Singh Deo, Hon'ble Deputy Chief Minister of Odisha, and Shri Vishal Kumar Dev, Additional Chief Secretary of the Department of Energy, Government of Odisha. Dr. Prasanna Kumar Acharya, Director (Finance) of NLCIL, was also present alongside other officials from both organizations.

Strategic Objectives and Scope

The primary objective of the joint venture is the installation and generation of 1000 MW of green energy power plants across Odisha. The projects will proceed subject to the establishment of techno-commercial feasibility and necessary approvals from the respective boards, governments, the Ministry of Coal, or other relevant authorities. The scope includes various renewable technologies such as solar, wind, hybrid systems, Battery Energy Storage Systems (BESS), pumped hydro storage, and green hydrogen.

NLC India Renewables Limited is a Wholly Owned Subsidiary of NLC India Limited, a Navratna Central Public Sector Enterprise under the administrative control of the Ministry of Coal, Government of India. NIRL has been actively expanding into large-scale renewable and green energy initiatives.

Management Commentary

Shri Prasanna Kumar Motupalli, Chairman and Managing Director of NLCIL, stated that the partnership with OREDA marks a significant milestone in the company's strategic diversification into clean and sustainable energy sectors. He emphasized the development of Renewable Energy projects using various technologies, including solar, wind, hybrid, BESS, pumped hydro storage, green hydrogen, and any new potential RE technology emerging in the future.

Key Details of the Joint Venture

The following table summarizes the key parameters of the agreement between NIRL and OREDA:

NLC India has signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) to form a Joint Venture (JV) for establishing renewable energy power projects in Tamil Nadu. The agreement, signed on June 22, 2026, in New Delhi, aims to develop large-scale Renewable Energy (RE) projects including Solar, Wind, and Hybrid Power. This strategic collaboration supports the nation's vision of "Viksit Bharat" and achieving Net Zero Carbon emissions.

The MoU was signed by Shri Anurag Mittal, Chief General Manager (Commercial and Business Development) at NLC India Limited, and Shri Manoj Nanda, Chief General Manager (Alternate Energy) at IOCL. The signing ceremony was attended by senior officials including Dr. Prasanna Kumar Acharya, Director (Finance) at NLCIL, and Shri Suman Kumar, Director (P&BD) at IOCL.

Project Scope and Objectives

The scope of the Joint Venture encompasses the development of projects with or without Energy Storage, such as Battery Storage and Pumped Storage Projects. The renewable power generated will be supplied to third parties, Commercial and Industrial (C&I) consumers, Discoms, and energy exchanges. Additionally, the power will cater to e-mobility and applications such as the production of green synthetic fuels and chemicals. The partnership will also explore opportunities across the complete value chain for solar module manufacturing and other renewable energy sectors in Tamil Nadu. The specific projects will be undertaken based on techno-commercial feasibility and mutual agreement between the two entities.

The following table outlines the key parameters of the proposed Joint Venture:

Strategic Significance

NLC India Limited, a Navratna Central Public Sector Enterprise under the Ministry of Coal, is expanding its portfolio from conventional mining and power generation to large-scale renewable and green energy initiatives. The company is actively involved in solar, wind, pumped hydro storage, Battery Energy Storage Systems (BESS), green hydrogen, and waste-to-energy projects. Shri Prasanna Kumar Motupalli, Chairman & Managing Director of NLC India Limited, highlighted that the partnership marks a significant milestone in the company's strategic diversification, emphasizing the development of Renewable Energy Projects using various technologies, including future emerging RE technologies.