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					</table><p><a href="https://www.nlcindia.in/" target="_blank" rel="noopener">NLC India</a> has approved the listing of its wholly-owned subsidiary, NLC India Renewables (NIRL), on the stock exchanges through the sale of up to 25% of its equity.</p>
<p>The NLC board’s in-principle approval of the listing proposal will be communicated to the Ministry of Coal for onward submission to the Department of Investment and Public Asset Management.</p>
<p>The board of NLC India also approved investing ₹666 million (~$7.38 million) in NIRL by subscribing to its equity shares. The transaction will be completed in one or more tranches, at the end of which NLC will have acquired 100% of NIRL’s equity.</p>
<p>The investment will help in developing green energy projects, to be implemented through joint ventures.</p>
<p>In December 2025, NLC India and PTC <a href="https://www.mercomindia.com/nlc-india-ptc-joint-venture-aims-to-develop-2-gw-renewable-energy-projects" target="_blank" rel="noopener">entered</a> into a joint venture to develop 2 GW of renewable energy projects. The JV will undertake the development, operation, and maintenance of solar, wind, hydro, battery energy storage systems, and green ammonia. 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.</p>
<p>NLC India has declared an interim dividend of 36% on the face value of its paid-up equity shares of ₹10 (~$0.11) each for the financial year 2026.</p>
<p>In July 2025,  NLC India <a href="https://www.mercomindia.com/nlc-india-to-invest-%E2%82%B916-3-billion-in-renewables-subsidiary" target="_blank" rel="noopener">granted</a> an in-principle approval to invest up to ₹16.3 billion (~$190 million) in one or more tranches in NIRL. This investment would be utilized to support NIRL’s renewable energy projects via capital expenditure funding.</p>
<p>In December 2025, NLC India <a href="https://www.mercomindia.com/nlc-india-secures-100-million-green-loan-from-sumitomo-mitsui" target="_blank" rel="noopener">secured</a> a green loan of ¥154.64 billion (~$100 million) from Sumitomo Mitsui Banking Corporation. The loan proceeds funding will be used to support capital expenditure for renewable energy projects through NIRL, helping optimize margins and accelerate its green energy initiatives.</p>
<p>In December 2025, NLC India <a href="https://www.mercomindia.com/nlc-india-wins-contract-for-110-mw-solar-projects-in-uttar-pradesh" target="_blank" rel="noopener">received</a> a letter of acceptance from the National Capital Region Transport Corporation for setting up 110 MW ground-mounted solar projects in Uttar Pradesh.</p>


NLC India Approves Plan to List Renewable Energy Subsidiary NIRL


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					</table><p>NLC India Renewables, a subsidiary of <a href="https://www.nlcindia.in/website/en/" target="_blank" rel="noopener">NLC India</a>, has signed a joint venture (JV) agreement with <a href="https://www.ptcindia.com/" target="_blank" rel="noopener">PTC India</a> to develop renewable energy projects with a capacity of 2 GW.</p>
<p>This follows a memorandum of understanding entered into by the two companies in September.</p>
<p>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.</p>
<p>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.</p>
<p>The JV will sell power to distribution companies, government entities, and the commercial and industrial sector.</p>
<p>Recently, NLC India <a href="https://www.mercomindia.com/nlc-india-wins-contract-for-110-mw-solar-projects-in-uttar-pradesh" target="_blank" rel="noopener">received</a> 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.</p>
<p>In December 2025, NLC India <a href="https://www.mercomindia.com/nlc-india-secures-100-million-green-loan-from-sumitomo-mitsui" target="_blank" rel="noopener">secured</a> 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.</p>
<p>NLC India has a total <a href="https://www.mercomindia.com/nlc-india-commissions-106-mw-solar-project-in-rajasthan" target="_blank" rel="noopener">installed</a> renewable energy capacity of over 1,484 MW, comprising ground-mounted solar, rooftop solar, floating solar, and wind power projects.</p>
<p>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.</p>
<p>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.</p>
<p>In November 2025, NLC India <a href="https://www.mercomindia.com/nlc-india-commissions-106-mw-solar-project-in-rajasthan" target="_blank" rel="noopener">commissioned</a> 106 MW as part of the second phase of its 300 MW solar project at Barsingsar in Bikaner, Rajasthan.</p>


NLC India-PTC Joint Venture Aims to Develop 2 GW Renewable Energy Projects


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					</table><p>In a major push for clean energy, the government has allowed two central public sector enterprises to invest up to ₹270 billion (~$3.14 billion) in their renewable energy subsidiaries.</p>
<p>The decision by the Cabinet Committee on Economic Affairs (CCEA) is expected to facilitate the acceleration of India’s renewable energy project development and ensure investments in reliable, round-the-clock electricity across the country.</p>
<p>The CCEA authorized <a href="https://ntpc.co.in/" target="_blank" rel="noopener">NTPC</a> to invest up to ₹200 billion (~$2.32 billion) in its renewable energy subsidiaries, NTPC Green Energy (<a href="https://www.ngel.in/ngel-home" target="_blank" rel="noopener">NGEL</a>) and NTPC Renewable Energy (<a href="https://ntpcrel.co.in/" target="_blank" rel="noopener">NREL</a>), as well as other joint ventures. The earlier investment cap was ₹75 billion (~$873.38 million).</p>
<p>NGEL has a renewable energy portfolio of approximately 32 GW. Of this capacity, approximately 6 GW is operational, roughly 17 GW is contracted or under award, and 9 GW is in the pipeline.</p>
<p>The increase in the investment limit will help NTPC’s subsidiaries achieve their goal of 60 GW of renewable energy capacity by 2032.</p>
<p>The government also approved a special exemption for NLC India (<a href="https://www.nlcindia.in/website/en/" target="_blank" rel="noopener">NLCIL</a>) from the prevailing investment guidelines for public sector enterprises to invest ₹70 billion (~$815.16 million) in its wholly owned subsidiary, NLC India Renewables (NIRL). NIRL will invest this amount in multiple projects, either directly or by forming joint ventures, without requiring prior approval under the existing delegation of powers.</p>
<p>This investment is also exempted from the 30% net worth ceiling prescribed by the Department of Public Enterprises for total investments by central public sector enterprises in joint ventures and subsidiaries.</p>
<p>NLC India aims to develop 10.11 GW of renewable energy capacity by 2030, with a projected expansion to 32 GW by 2047. It currently operates seven renewable energy assets with a total installed capacity of 2 GW. These assets are either operational or close to commercial operation. They will be transferred to NIRL after the Cabinet’s approval.</p>
<p>Recently, NLCIL <a href="https://www.mercomindia.com/nlc-india-to-invest-%E2%82%B916-3-billion-in-renewables-subsidiary" target="_blank" rel="noopener">granted</a> an in-principle approval to invest up to ₹16.3 billion (~$190 million) in one or more tranches in NIRL.</p>
<p>In June this year, NTPC <a href="https://www.mercomindia.com/ntpc-raises-750-million-via-external-commercial-borrowing" target="_blank" rel="noopener">raised</a> an unsecured $750 million via an external commercial borrowing syndicated term loan facility.</p>


Government Allows NTPC, NLC to Invest ₹270 Billion in Green Energy Arms

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