NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India Limited, has signed a joint venture (JV) agreement with Odisha Renewable Energy Development Agency (OREDA) Limited for the development of green energy projects.
Furthermore, the JV will establish, operate and maintain 1 GW of green energy capacity across Odisha in the first phase. Additionally, it will undertake the development of other green energy assets and ancillary activities through forward and backward integration in the state, subject to techno-commercial feasibility and the required approvals from the relevant authorities.
In June 2026, NIRL incorporated a JV company with National Capital Region Transport Corporation under the name NIRL NCRTC Renewables Limited. The JV was formed to develop grid-connected solar projects, with NIRL holding a 74 per cent equity stake and NCRTC holding the remaining 26 per cent.
In April 2026, NLC India Limited entered into a loan agreement worth €100 million with KfW to support its renewable energy initiatives, particularly in solar generation and battery energy storage systems. The agreement is expected to provide access to capital at competitive rates while helping diversify the company’s borrowing portfolio.
