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Informist, Tuesday, Jun. 23, 2026

 

--NLC India to form JV with IOC for renewable energy projects in Tamil Nadu 

 

NEW DELHI – NLC India Ltd. Tuesday said it has signed a memorandum of understanding with Indian Oil Corp. Ltd. to form a joint venture for developing large-scale renewable energy projects in Tamil Nadu. The proposed venture will develop solar, wind and hybrid power projects, with or without energy storage systems such as battery storage and pumped hydro storage, NLC India said in an exchange filing.

 

The projects will cater to the power supply requirements of commercial and industrial consumers, distribution companies, power exchanges, e-mobility applications, and green fuel production. The agreement between the two state-owned companies was signed on Monday in New Delhi.

 

For the quarter ended March, NLC India reported a consolidated net profit of INR 13.93 billion on revenues of INR 50.42 billion. Indian Oil Corp. reported a net profit of INR 113.78 billion on revenues of INR 2.33 trillion.

 

On Tuesday, NLC India's shares closed 0.1% lower at INR 327.15, while IOC shares ended 0.8% lower at INR 143.17 on the National Stock Exchange.   End

 

Reported by Gunjan Rajput 

Edited by Saji George Titus

 

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