NLC India Limited (NLCIL) has signed an addendum to its business transfer agreement with NLC India Renewables Limited (NIRL), its wholly owned subsidiary, for the proposed hiving off of 708.96 MW of renewable energy assets, including a 4 MW green hydrogen project. The assets are at various stages of construction and operation, and will be hived off from the books of NLCIL to the books of NIRL at the book value
The renewable energy assets proposed to be hived off generated Rs 411.6 million in revenue in financial year 2025-26, accounting for 0.24 per cent of NLCIL’s consolidated revenue, while their net worth stood at Rs 9,250.8 million, equivalent to 4.30 per cent of the company’s net worth. Moreover, the transaction is expected to be completed within three months, with NIRL providing the consideration in cash or through acknowledgement of debt.
In September 2026, NLCIL, through its wholly owned subsidiary NIRL, incorporated a joint venture company, NIRL OREDA Renewables Limited, with the Odisha Renewable Energy Development Agency (OREDA). The JV will focus on developing green energy power plants, with NIRL and OREDA holding 51 per cent and 49 per cent equity stakes, respectively.
