NLC India Limited has entered into a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) to establish a joint venture for developing renewable energy projects in Tamil Nadu.
The partnership aims to support India's clean energy transition through investments in solar, wind, hybrid power, energy storage, and green hydrogen projects.
The MoU was signed in New Delhi on June 22, 2026, by representatives of NLC India and IOCL in the presence of senior officials from both organisations.
The proposed joint venture will focus on setting up large-scale renewable energy projects across Tamil Nadu.
The collaboration will explore opportunities in solar, wind, and hybrid renewable energy projects with or without energy storage solutions.
The scope also includes Battery Energy Storage Systems (BESS), pumped storage projects, and combinations of various renewable technologies based on techno-commercial feasibility.
Apart from power generation, the partnership will evaluate opportunities related to green hydrogen, e-mobility, green synthetic fuels, chemicals, and the solar module manufacturing value chain.
The renewable energy generated may be supplied to commercial and industrial consumers, discoms, power exchanges, and other emerging clean energy applications.
NLC India stated that it has been actively expanding beyond conventional power generation into renewable and green energy segments, including solar, wind, pumped hydro storage, battery energy storage, green hydrogen, low-carbon round-the-clock power, and waste-to-energy projects.
The company views the partnership as a step toward accelerating its clean energy growth strategy.
According to NLC India, the collaboration with IOCL represents a significant milestone in strengthening India's clean energy ecosystem and aligns with the country's net-zero and sustainable development objectives.
The companies expect the partnership to support technological advancement and the deployment of reliable green energy solutions.
Read More: NLC India Share Price in Focus as Government Launches OFS to Sell 3% Stake at Floor Price of ₹303 Per Share!
As of 23 June 2026, NLC India share price was closed at ₹326.85 per share, reflecting a decline of 0.23% from the previous trading session.
NLC India has signed an MoU with IOCL to form a joint venture for developing renewable energy projects in Tamil Nadu. The collaboration will focus on solar, wind, hybrid power, energy storage, green hydrogen, and other clean energy opportunities, strengthening both companies' presence in India's renewable energy sector.
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Published on: Jun 23, 2026, 5:42 PM IST
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