NLCIL expands renewable push with JV, green loan, and new solar projects

NLC India Limited (NLCIL) has formed a joint venture with PTC India Limited (PTC) to develop a diversified renewable energy portfolio of up to 2,000 MW. The agreement was signed on 12 December 2025 and marks a significant step in NLCIL’s clean energy expansion strategy.

The joint venture will focus on solar, wind, hydro, battery energy storage, and green ammonia projects. The initial development phase will cover 500 MW. The partnership combines NLCIL’s experience in project development with PTC’s capabilities in power trading to deliver integrated energy solutions to distribution companies, government entities, and commercial and industrial consumers.

Alongside this, NLCIL has secured a $100 million green loan from Sumitomo Mitsui Banking Corporation (SMBC). The low-cost external commercial borrowing will be used to fund capital expenditure for renewable projects implemented through its subsidiary, NLC India Renewables Limited. The funding supports NLCIL’s Corporate Plan 2030, which targets the addition of 10 GW of renewable capacity and a 50 percent share of green energy in the overall portfolio by 2030.

In an operational update, NLC India has received a Letter of Acceptance from the National Capital Region Transport Corporation Limited (NCRTC) to develop a 110 MW (AC) grid-connected solar photovoltaic project in Uttar Pradesh under captive mode. Power from the project will be supplied under a 25-year Power Purchase Agreement, with commissioning planned within 24 months from the effective date of the agreement.

Separately, NLC India Renewables Limited has signed a memorandum of understanding with the Odisha Renewable Energy Development Agency (OREDA). The collaboration will explore the development of solar, hybrid, rooftop, and energy storage projects in Odisha, further expanding the company’s regional renewable energy presence.

The featured photograph is for representation only.