NLC India Forms Joint Venture with Rajasthan Rajya Vidyut Utpadan Nigam

In a significant move towards sustainable energy development, NLC India Limited has announced the formation of a joint venture with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL). This venture is in line with India’s growing emphasis on green energy infrastructure. The newly incorporated company, named NIRL Rajasthan Renewables Limited, aims to spearhead renewable energy projects in the state of Rajasthan, reinforcing the commitment of both partners to clean energy initiatives.

Partnership Structure and Strategic Intent

The joint venture has been structured with NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India Limited, holding a 74% equity stake, while RVUNL holds the remaining 26%. This strategic alliance is designed to focus on the development, operation, and maintenance of renewable energy projects. The incorporation was completed on 2nd June 2025, with approvals from the Ministry of Coal and the Department of Investment and Public Asset Management (DIPAM), reflecting a strong regulatory foundation.

The collaboration represents a step forward in NLC India’s expansion beyond its traditional operations, embracing cleaner and more sustainable energy sources. It highlights the synergy between central and state-level energy entities in advancing India’s renewable energy goals.

Financial Overview 

The joint venture is not treated as an acquisition; rather, it has been formed through cash subscription to equity shares, priced at a face value of ₹10 per share. NIRL’s 74% stake gives it operational control, ensuring alignment with NLC India's broader renewable energy ambitions.

NLC India Share Performance 

As of June 04, 2025, at 10:25 AM, NLC India share price is trading at ₹235.89 per share, reflecting a surge of 1.15% from the previous closing price. Over the past month, the stock has surged by 4.70%.

Conclusion

The formation of NIRL Rajasthan Renewables Limited is a landmark step for NLC India Limited and RVUNL, symbolising their dedication to India’s clean energy mission. With a clear structure, regulatory backing, and shared objectives, the joint venture sets the stage for impactful contributions to the nation’s renewable energy landscape.

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