NALCO, NLC India to set up 1-GW thermal captive power unit in Odisha via JV
This story was originally published at 18:22 IST on 8 July 2026
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--NALCO, NLC India to set up 1-GW thermal captive power unit in Odisha via JV
NEW DELHI – National Aluminium Co. Ltd. Wednesday said it has signed a joint venture agreement with NLC India Ltd. to set up a 1.08 gigawatt thermal captive power plant in Angul, Odisha.
The proposed joint venture company will be equally owned by NALCO and NLC India and will develop a power plant to meet the electricity requirements of NALCO's 500,000 tonnes per annum aluminium smelter expansion project. The agreement also provides for exploring long-term arrangements for 200-250 megawatts of renewable energy and long-term coal supply.
Under the agreement, the joint venture will sign a 25-year power purchase agreement with NALCO for 100% of the power generated by the plant. It will also execute a fuel supply agreement with NLC India for coal at the notified price by Coal India Ltd.. NALCO said both companies will have equal representation on the board of the joint venture.
For the March quarter, NALCO reported a net profit of INR 17.18 billion on revenue of INR 50.13 billion. On Wednesday, shares of the company closed 2% higher at INR 349.75 on the National Stock Exchange.
For the quarter ended March, NLC India reported a consolidated net profit of INR 13.93 billion on revenue of INR 50.42 billion. On Wednesday, shares of the company ended at INR 294.10, down 2.7% from Tuesday. End
Reported by Gunjan Rajput
Edited by Avishek Dutta
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