NLC India Limited issued and allotted 10,000 commercial papers aggregating to ₹500 crore on June 24, 2026. The issuance was undertaken to raise short-term funds, with each commercial paper carrying a face value of ₹5,00,000.

The disclosure was submitted to the National Stock Exchange of India Ltd. and BSE Ltd. under Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed the allotment in a regulatory filing dated June 25, 2026.

NLC India Limited, a 'Navratna' Government of India Enterprise, operates in the energy sector. The registered office is located in Chennai, Tamil Nadu, while the corporate office is situated in Neyveli, Cuddalore District.

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: