NLC India Limited has signed a Memorandum of Understanding with Indian Oil Corporation Limited for the development of large-scale renewable energy projects in Tamil Nadu. The MoU was signed on June 22, 2026, in New Delhi.
The MoU aims to form a joint venture for establishing solar, wind, and hybrid power projects, with or without energy storage such as battery storage and pumped storage. The projects will supply renewable power to third-party consumers, commercial and industrial consumers, discoms, energy exchanges, for e-mobility, and for production of green synthetic fuels and chemicals. The collaboration covers the complete value chain, including solar module manufacturing, and other renewable energy opportunities in Tamil Nadu based on techno-commercial feasibility.
The agreement was signed by Shri Anurag Mittal, Chief General Manager, Commercial and Business Development, NLCIL, and Shri Manoj Nanda, Chief General Manager, Alternate Energy, IOCL. Senior executives from both organizations were present, including Dr. Prasanna Kumar Acharya, Director (Finance)/NLCIL, and Shri Suman Kumar, Director (P&BD)/IOCL.
NLC India Limited, a Navratna Central Public Sector Enterprise under the Ministry of Coal, has nearly seven decades of presence in mining and power generation. The company is expanding its renewable energy portfolio to include solar, wind, pumped hydro storage, battery energy storage systems, green hydrogen, low-carbon round-the-clock power, and waste-to-energy projects.
Shri Prasanna Kumar Motupalli, Chairman & Managing Director of NLC India Limited, stated that the partnership with IOCL marks a significant milestone in NLCIL's diversification into clean and sustainable energy sectors. He emphasized the development of renewable energy projects using various technologies for solar, wind, hybrid, storage, green hydrogen, and emerging renewable energy technologies.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.