NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India Limited, has signed a joint venture agreement (JV) with PTC India Limited to establish a green energy joint venture company.
The new joint venture company (JVC) will focus on the establishment, operation, and maintenance of renewable energy projects, including solar, wind, hydro, battery energy storage systems, green ammonia, and other emerging technologies. The planned green energy capacity is up to 2,000 MW, to be implemented in phases, with the first phase targeting 500 MW. The JVC will also undertake power sales through both competitive and regulated mechanisms under section 62 and section 63 of the Electricity Act catering to a mix of discoms, government entities, and commercial and industrial consumers.