NLC India arm & PTC India form JV for 2,000 MW green energy projects

NLC India Renewables Ltd, a wholly-owned subsidiary of NLC India Ltd, has signed a joint venture agreement (JVA) with PTC India Ltd to set up a green energy joint venture. The agreement was inked on December 12, 2025, in Neyveli, in the presence of the chairpersons and functional directors of both organisations.

The move follows the memorandum of understanding signed between the two entities on September 8, 2025.

According to the exchange filing, the proposed joint venture will develop, operate, and

maintain renewable energy projects, including solar, wind, hydro, battery energy storage systems, green ammonia, and other emerging clean technologies. The partners plan to build up to 2,000 MW of green energy capacity in phases, beginning with about 500 MW in the first phase.

The JV will leverage NLCIL’s rapidly expanding renewables portfolio and PTC India’s power trading expertise to create integrated green energy solutions and renewable energy parks.

NLC India eyes FY27 listing for renewables arm

NLC India is preparing a major expansion in renewable energy and expects to list its green subsidiary in FY27, supported by rapid project additions and strong policy approvals. The company’s Chairman and Managing Director Prasanna Kumar Motupalli recently said NLC is on track to exceed its long-term clean energy goals while also ramping up operations at the Ghatampur thermal plant.

He noted that NLC India plans to grow its renewable portfolio well beyond its original 10GW target for 2030, with more than 8GW of projects already in the pipeline.

Shares of NLC India Ltd ended higher on Friday, December 12, by 3.21% at ₹243.90 on the NSE.

Also Read: Paytm injects ₹2,250 cr into payments arm PPSL via rights issue