NLC India bets big on green energy with 1,000 MW Odisha project

As state-run energy companies accelerate their clean-energy expansion plans, NLC India Renewables Ltd (NIRL), a subsidiary of NLC India Ltd, has signed a joint venture agreement with OREDA Ltd for the development of green energy projects in Odisha.

Under the agreement signed on June 23, the two entities will establish, operate and maintain 1,000 MW of green energy projects in the state in the first phase, the company said in an exchange filing with the NSE.

The planned capacity is equivalent to 1 gigawatt (GW), making it one of the larger renewable energy commitments announced in Odisha in recent years.

The joint venture will also undertake other activities in the green energy sector through forward and backward integration.

The company added that the proposed projects will be implemented subject to techno-commercial feasibility and approvals from the respective boards, governments, the Ministry of Coal and other relevant authorities.

According to the agreement, the collaboration will cover renewable energy technologies including solar, wind, hybrid systems, battery energy storage systems, pumped hydro storage, green hydrogen and other emerging renewable energy technologies. The projects will be developed across Odisha.

Odisha has been seeking to attract greater investment in clean energy as industries in the state increasingly look for renewable power sources to meet decarbonisation targets. The state also offers significant potential for solar, wind and energy storage projects.

Prasanna Kumar Motupalli, Chairman and Managing Director of NLCIL, stated that the partnership with OREDA marks a significant milestone in NLCIL's strategic diversification into clean and sustainable energy sectors.

The agreement forms part of NLC India's broader effort to diversify beyond its traditional lignite mining and thermal power businesses. The state-run company has been steadily expanding its renewable energy portfolio as India targets 500 GW of non-fossil fuel power capacity by 2030.

Earlier, on June 12, the company informed exchanges that it had been declared the preferred bidder for the Parvathapur Vanadium, Titanium and Aluminous Laterite Block in Telangana.

The state-run miner secured the preferred bidder status following the critical and strategic mineral block e-auction conducted by the Ministry of Mines on June 11.

The block is located in Sangareddy district of Telangana and contains minerals considered strategically important for sectors such as energy storage, defence, aerospace and advanced manufacturing.

The latest renewable energy venture also comes amid a broader wave of investments by state-run power companies into solar, wind, battery storage and green hydrogen projects as India's energy transition gathers pace.

Shares of NLC India Ltd ended 0.99% lower at ₹323.90 on the NSE on June 24.

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