NLC India Renewables, a subsidiary of NLC India, has signed a joint venture (JV) agreement with PTC India to develop renewable energy projects with a capacity of 2 GW.

This follows a memorandum of understanding entered into by the two companies in September.

The JV will undertake the development, operation, and maintenance of renewable projects, including solar, wind, hydro, battery energy storage systems (BESS), green ammonia, and other emerging green technologies.

It aims to develop green energy capacity of up to 2,000 MW in phases. In the first phase, the joint venture will aim for a capacity of 500 MW.

The JV will sell power to distribution companies, government entities, and the commercial and industrial sector.

Recently, NLC India received a letter of acceptance from the National Capital Region Transport for setting up 110 MW ground-mounted solar projects in Uttar Pradesh. The projects will be developed in captive mode.

In December 2025, NLC India secured a green loan of ¥154.64 billion (~$100 million) from Sumitomo Mitsui Banking Corporation to support capital expenditure for renewable energy projects through NLC India Renewables.

NLC India has a total installed renewable energy capacity of over 1,484 MW, comprising ground-mounted solar, rooftop solar, floating solar, and wind power projects.

The company’s solar portfolio includes multiple projects across India, including a 10 MW solar power plant in Neyveli, commissioned in 2015, supplying power to Tamil Nadu Generation and Distribution Corporation (TANGEDCO) under a power purchase agreement (PPA). The portfolio also includes a 130 MW solar project at Neyveli, implemented in two 65 MW blocks, commissioned in 2017 under the central public sector undertaking program.

It also operates a 500 MW and a 709 MW solar power project in Tamil Nadu, commissioned between 2018 and 2019, with PPAs signed with TANGEDCO.

In November 2025, NLC India commissioned 106 MW as part of the second phase of its 300 MW solar project at Barsingsar in Bikaner, Rajasthan.