NLC India secures EUR 100 million KfW loan for solar and BESS

NLC India Limited (NLCIL) has signed a loan agreement for EUR 100 million with KfW on April 20, 2026, to support its solar and battery energy storage system (BESS) projects.

The funding will be used to expand solar power generation and BESS capacity, strengthening grid reliability and supporting NLCIL’s renewable energy portfolio. The company stated that the loan will also provide access to capital at competitive rates and diversify its borrowing mix.

NLC India said the collaboration supports India’s clean energy transition and decarbonisation efforts. The company is targeting around 8 GW of renewable capacity by 2028 and 10 GW by 2030. It currently started the year with about 1,400 MW of renewable capacity, has added 300 MW, and plans to add another 300 MW within the year.

According to the company’s management, NLCIL is expanding across multiple states and has formed a joint venture with the Rajasthan government to add 2 GW of renewable energy capacity. By the end of the financial year, it expects to reach around 2 GW of renewable capacity.