NLC India Renewables Limited has officially signed a Joint Venture Agreement with PTC India Limited on December 12, 2025, formalizing their strategic partnership to develop renewable energy projects with a capacity target of up to 2000 MW. The agreement was signed at Neyveli in the presence of senior leadership from both organizations, marking a significant milestone in India's green energy sector.

Joint Venture Agreement Details

The signing ceremony took place in the presence of Shri Prasanna Kumar Motupalli, Chairman and Managing Director of NLC India Limited, and Dr. Manoj Kumar Jhawar, Chairman and Managing Director of PTC India Limited, along with Functional Directors of NLC India Limited. This Joint Venture Agreement builds upon the Memorandum of Understanding signed between the companies on September 8, 2025.

Project Scope and Technology Focus

The Joint Venture Company will undertake the establishment, operation, and maintenance of comprehensive renewable energy projects. The collaboration encompasses multiple green technologies including solar, wind, hydro, battery energy storage systems, green ammonia, and other emerging green technologies.

Implementation Strategy and Market Approach

The collaboration envisages phased development with the first phase targeting around 500 MW capacity. The Joint Venture Company will enable both organizations to pool their strengths in project development, power trading, renewable energy park creation, and integrated green energy solutions.

The JVC will undertake power sales through competitive and regulated routes under Section 62 or Section 63 of the Electricity Act, targeting a diverse customer mix including DISCOMs, government entities, and commercial industrial consumers.

Strategic Partnership Benefits

This partnership combines NLC India's expertise in power generation with PTC India Limited's capabilities as a leading provider of power trading solutions based in New Delhi. The collaboration positions both companies to capitalize on India's expanding renewable energy market while contributing to the country's green energy transformation goals.

NLC India Limited, operating as a Navratna Government of India Enterprise in the Power Generation & Distribution sector, continues to rapidly expand its renewable energy portfolio through this strategic alliance.

NLC India Limited , a Navratna Government of India Enterprise, has been fined by both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for non-compliance with SEBI regulations regarding board composition. The company received notices from both stock exchanges on November 28, 2025, highlighting its failure to appoint a women director as required by Regulation 17(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Fine Details

Company's Response

NLC India has requested a waiver of the fines imposed by both NSE and BSE, citing the following grounds:

1. As a Government Company, the power to appoint Directors on the Board rests with the President of India.
2. The Ministry of Coal (MoC), the Administrative Ministry, has been periodically apprised of the requirement to appoint the requisite number of Independent Directors, including a women director.

The company maintains that the non-compliance was neither attributable to any negligence or default on its part nor within the control of the company's management.

Impact on Operations

NLC India has stated that there is no impact on its operations or other activities due to the imposition of these fines. The total financial implication is limited to the fines imposed by NSE and BSE, amounting to Rs 10,85,600.

Compliance Efforts

The company has been actively communicating with the Ministry of Coal regarding the requirement to appoint Independent Directors, including a women director, to comply with SEBI regulations. However, as a government-owned entity, NLC India's board appointments are controlled by the President of India, which adds complexity to the compliance process.

This incident highlights the challenges faced by government-owned companies in balancing regulatory requirements with their unique governance structures. As investors and regulators continue to emphasize the importance of diverse board composition, it remains to be seen how NLC India and similar entities will address these compliance issues in the future.