NLC India targets 2 GW renewable addition this financial year

NLC India Limited is progressing with its renewable energy expansion and aims to add around 2 GW of capacity by the end of the current financial year, according to details shared during an investor call by M. Prasanna Kumar, Director. The company is working toward a broader target of 8 GW by 2028 and 10 GW by 2030, supported by an expanding project pipeline and several joint ventures.

The company is advancing a 600 MW renewable energy project in Gujarat. The Balance of System (BoS) contract has been awarded and module orders have been placed, with most modules already delivered to the site. NLC India expects to commission 300 MW by the end of the current financial year, while the remaining 300 MW is expected to be operational within one to one-and-a-half months of the next financial year.

For the 1,000 MW solar joint venture with the Government of Assam, land acquisition is in its final stage. A requisition for funds has been submitted, and once the process concludes, the land is expected to be handed over, enabling construction to begin.

The company also provided an update on the proposed initial public offering (IPO) of NLC India Renewables. Preparatory work is underway, with Cabinet approval and required tax exemptions already obtained. The IPO is currently expected in September 2026, with efforts underway to advance the timeline.

NLC India is targeting an additional 2 GW of renewable capacity through its joint venture with PTC India Limited, with an estimated capital expenditure of about Rs 10,000 crore. NLC India will lead project development, while PTC India will participate as the joint venture partner.

The company has established multiple joint ventures with state governments to strengthen its renewable pipeline. These include a joint venture with the Government of Rajasthan for 2 GW of renewable capacity, a joint venture with the Government of Assam for 1 GW of solar capacity, a joint venture with Maharashtra Power Infrastructure Development and Eco-System Technology (MAHAPREIT) targeting around 5 GW, and a joint venture with the Government of Odisha for about 2 GW. Together, these initiatives exceed the company’s 10 GW target. Around 3 GW of projects are currently under active development and are expected to be commissioned over the next 1.5 to 2 years.

In Rajasthan, land has been secured for roughly 600 MW under the 2,000 MW solar joint venture. Remaining activities are progressing in coordination with Rajasthan Urja Vikas Limited (RUVNL). The company expects to obtain land for the full 2,000 MW capacity in the next quarter, after which power generation could begin within one year.

The 810 MW Pugal project is in the final phase of land acquisition and is expected to move forward on a fast-track basis once this process is completed.

With a target of building a 10 GW renewable portfolio by 2030, NLC India is positioning itself among major state-owned renewable developers alongside NTPC Green Energy and SJVN. The company continues to advance projects to meet its interim target of 8 GW by 2028 and its 10 GW goal by 2029–30.

The featured photograph is for representation only.