NLC India Limited (NLCIL) has signed an MoU with Indian Oil Corporation Limited (IOCL) for the formation of a joint venture (JV) to establish renewable energy projects in Tamil Nadu. The JV will focus on developing large-scale renewable energy projects across the state, including solar, wind and hybrid projects with or without energy storage systems such as battery energy storage and pumped storage projects.
Under the MoU, the companies will explore opportunities to supply renewable power to third party consumers, commercial and industrial customers, discoms, energy exchange and e-mobility applications. Additionally, they will support green synthetic fuels, chemicals and solar module manufacturing, subject to techno-commercial feasibility.
In January 2026, NLCIL inked an MoU with the Government of Gujarat for the development of large-scale renewable energy projects in the state. The proposed projects include solar, wind, hybrid and battery energy storage systems, with an estimated investment potential of Rs 250 billion.
