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.

NLC India Limited has been declared the preferred bidder for the Govindpur Vanadium, Titanium & Aluminous Laterite block located in Sanga Reddy, Telangana. The designation follows the Critical & Strategic mineral blocks e-auction conducted by the Ministry of Mines, Government of India, on June 12, 2026. This development marks a significant expansion in the company's portfolio of critical and strategic minerals.

The company submitted its disclosure to the National Stock Exchange of India Ltd. and BSE Ltd. on June 13, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification confirmed NLC India Limited's successful bid for the mineral block.

Auction Details

The Ministry of Mines, Government of India, conducted the e-auction for the Govindpur block on June 12, 2026. NLC India Limited emerged as the preferred bidder for the asset, which contains Vanadium, Titanium, and Aluminous Laterite. The intimation was signed by Sushanta Kumar Panda, Company Secretary & Compliance Officer of NLC India Limited.