NLC India, IOCL sign MoU for renewable energy JV in Tamil Nadu
NLC India Limited (NLCIL) and Indian Oil Corporation Limited (IOCL) have signed a Memorandum of Understanding (MoU) to establish a joint venture for developing large-scale renewable energy projects in Tamil Nadu.
The proposed joint venture will develop solar, wind and hybrid renewable energy projects in Tamil Nadu. The scope also includes energy storage projects, covering both Battery Energy Storage Systems (BESS) and pumped hydro storage, to support reliable power supply and renewable energy integration.
Broader business areas
According to the MoU, the joint venture will explore power supply opportunities for third-party consumers, commercial and industrial (C&I) customers, distribution companies (DISCOMs) and power exchanges.
The partnership will also evaluate opportunities in e-mobility, power-to-X applications, green synthetic fuels and chemicals, as well as the solar module manufacturing value chain. Other emerging renewable energy technologies may also be considered subject to techno-commercial feasibility.
Expansion of clean energy portfolio
NLCIL has been expanding its presence beyond mining and conventional power generation into renewable energy segments, including solar, wind, pumped hydro, BESS, green hydrogen, low-carbon round-the-clock power and waste-to-energy projects.
The proposed joint venture forms part of the company’s strategy to increase its clean energy portfolio and diversify its business operations.
Tamil Nadu opportunity
Tamil Nadu remains one of India’s leading renewable energy states, with significant solar and wind resources and an established renewable energy ecosystem.
The collaboration is expected to combine NLCIL’s project development and execution capabilities with IOCL’s energy sector presence to pursue renewable energy opportunities in the state.
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