NLC India, NCRTC form JV for solar power projects
NLC India Limited has incorporated a joint venture with the National Capital Region Transport Corporation (NCRTC) to develop grid-connected solar photovoltaic (PV) projects for supplying renewable energy to NCRTC infrastructure, including the Regional Rapid Transit System (RRTS).
The joint venture company, NIRL NCRTC Renewables Limited, has been formed with 74% equity participation from NLC India Renewables Limited (NIRL), the wholly owned renewable energy subsidiary of NLC India, and 26% from NCRTC. The Ministry of Corporate Affairs issued the Certificate of Incorporation on May 27, 2026.
The development marks another step in NLC India’s ongoing expansion across renewable energy, battery storage and clean energy infrastructure.
Renewable expansion
As of March 2026, NLC India had 734 MW of operational renewable energy capacity, while another 5.81 GW was under implementation and development. Around 2.5 GW of this pipeline is currently under construction.
During FY26, the company commissioned 303 MW of renewable energy capacity, including a 300 MW solar project in Rajasthan.
The company has outlined a target of developing more than 10 GW of renewable energy capacity by 2030, broadly matching its thermal power portfolio.
Solar and storage projects
NLC India Renewables Limited recently received a Letter of Award from Solar Energy Corporation of India (SECI) for a 600 MW solar project integrated with a 300 MW / 1,800 MWh battery energy storage system (BESS).
The company is also executing a 500 MWh BESS project in Tamil Nadu along with additional storage projects in Punjab. NLC India already operates a solar-plus-storage project in the Andaman Islands, which has been operational for around four years.
Separately, the company is preparing a detailed project report for a 750 MW pumped storage project in Odisha.
Nuclear and financing initiatives
On May 25, 2026, NLC India signed a Memorandum of Understanding (MoU) with Nuclear Power Corporation of India Limited (NPCIL) to establish another joint venture for development of nuclear power projects based on indigenous 700 MW Pressurised Heavy Water Reactor (PHWR) technology.
The company also secured EUR 100 million in financing from German development bank KfW through a loan agreement signed on April 20, 2026. The funding will support solar and battery storage projects.
FY26 performance and NIRL listing
For FY26, NLC India reported consolidated revenue of Rs 17,490 crore, up 14.4% year-on-year, while profit after tax (PAT) increased 38.9% to Rs 3,769 crore.
Coal production during the year stood at 19.14 million tonnes, while renewable energy generation reached 2.26 billion units.
The government has also approved the listing of NLC India Renewables Limited through a fresh equity issue and dilution of up to 25% stake held by NLC India through a domestic public offering. The company has already transferred 1.4 GW of operational renewable assets into NIRL.
