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NLC India Renewables and PTC India Form JV to Roll Out Up to 2 GW of Green Energy Capacity

NLC India Renewables Ltd. (NIRL), a wholly owned subsidiary of NLC India Ltd. (NLCIL), has entered into a joint venture agreement with PTC India to jointly develop renewable and green energy projects with a combined capacity of up to 2 GW. The development programme will be executed in phases, beginning with an initial deployment of approximately 500 MW.

According to the company, the newly formed joint venture company (JVC) will bring together the complementary capabilities of both organisations across project development, renewable energy park creation, power trading, and integrated green energy solutions. The collaboration is designed to support large-scale clean energy deployment across multiple technologies.

The formal signing ceremony took place in the presence of Prasanna Kumar Motupalli, Chairman and Managing Director of NLC India, and Dr. Manoj Kumar Jhawar, Chairman and Managing Director of PTC India, along with functional directors of NLC India. The Memorandum of Understanding (MoU) that laid the foundation for the partnership had been executed earlier in September 2025.

Under the agreement, the joint venture will be responsible for the development, operation, and maintenance of a diverse portfolio of renewable energy assets. These will include solar, wind, and hydro power projects, along with battery energy storage systems (BESS), green ammonia, and other emerging green technologies.

The joint venture will also manage power offtake and sales through both competitive and regulated mechanisms, in accordance with Sections 62 and 63 of the Electricity Act. The target customer base will comprise state DISCOMs, government agencies, and commercial and industrial (C&I) consumers, enabling a diversified revenue mix.

The partnership marks a significant step in expanding NLC India’s renewable energy footprint and reinforces both companies’ commitment to accelerating India’s transition toward a low-carbon energy future.