NLC India Limited (NLCIL) and Indian Oil Corporation Limited (IOCL) have signed a Memorandum of Understanding (MoU) to establish a Joint Venture for developing large-scale renewable energy projects in Tamil Nadu. The collaboration will focus on solar, wind, hybrid power, energy storage systems, green hydrogen and other emerging clean energy technologies, supporting India’s Net Zero and Viksit Bharat goals.
Key Highlights
✅ NLC India and Indian Oil sign MoU for a Joint Venture to develop renewable energy projects in Tamil Nadu.
✅ Projects will include solar, wind, hybrid power, battery storage and pumped hydro storage.
✅ The partnership will explore opportunities in green hydrogen and green synthetic fuels.
✅ The initiative supports India’s clean energy transition and Net Zero ambitions.
New Delhi, June 24: NLC India Limited (NLCIL) and Indian Oil Corporation Limited (IOCL) have taken a significant step towards accelerating India’s clean energy transition by signing a Memorandum of Understanding (MoU) for the formation of a Joint Venture (JV) to develop large-scale renewable energy projects in Tamil Nadu.
The MoU was signed in New Delhi on June 22, 2026, by Shri Anurag Mittal, Chief General Manager (Commercial and Business Development), NLC India Limited, and Shri Manoj Nanda, Chief General Manager (Alternate Energy), Indian Oil Corporation Limited, in the presence of senior officials from both organizations.
The strategic partnership aims to establish a comprehensive portfolio of renewable energy projects, including solar power, wind energy, hybrid renewable projects, Battery Energy Storage Systems (BESS), Pumped Hydro Storage Projects (PHSPs) and integrated clean energy solutions. The Joint Venture will also explore future opportunities based on techno-commercial feasibility and evolving market requirements.
Under the agreement, the two public sector giants will work together to develop renewable power projects for supplying electricity to commercial and industrial (C&I) consumers, distribution companies (Discoms), power exchanges and e-mobility applications. The partnership will additionally explore opportunities across the clean energy value chain, including green hydrogen, green synthetic fuels, green chemicals and solar module manufacturing.
The collaboration aligns with the Government of India’s vision of “Viksit Bharat”, energy security and the country’s long-term commitment to achieving Net Zero carbon emissions. It also reflects the growing role of public sector enterprises in driving investments in renewable energy and sustainable infrastructure.
NLC India Limited, a Navratna Central Public Sector Enterprise under the Ministry of Coal, has a distinguished legacy spanning nearly seven decades in mining and power generation. While maintaining its leadership in conventional power generation, the company has significantly expanded its renewable energy portfolio in recent years.
NLCIL is actively pursuing investments in solar energy, wind power, pumped hydro storage, Battery Energy Storage Systems (BESS), green hydrogen, low-carbon round-the-clock power solutions and waste-to-energy projects. The company has emerged as a key contributor to India’s renewable energy expansion strategy.
Speaking on the occasion, Shri Prasanna Kumar Motupalli, Chairman and Managing Director of NLC India Limited, described the partnership with IOCL as a major milestone in NLCIL’s diversification into sustainable energy sectors. He emphasized that the collaboration will enable the development of renewable energy projects using multiple technologies, including solar, wind, hybrid systems, battery storage, pumped hydro storage and green hydrogen, while also exploring emerging clean energy technologies in the future.
The partnership leverages the complementary strengths of both organizations. While NLCIL brings extensive experience in power generation and renewable energy development, IOCL contributes its vast energy infrastructure, market reach and growing expertise in alternative energy solutions.
The Joint Venture is expected to create a robust renewable energy ecosystem in Tamil Nadu and support India’s transition towards cleaner and more sustainable energy sources. It will also contribute to reducing carbon emissions, enhancing energy security and promoting technological innovation in the renewable energy sector.
The collaboration represents a significant step in strengthening India’s renewable energy landscape and demonstrates the commitment of major public sector enterprises towards sustainable development, climate action and nation-building through green energy initiatives.
Conclusion
The MoU between NLC India Limited and Indian Oil Corporation Limited marks a major advancement in India’s renewable energy journey. By combining expertise in power generation, clean energy technologies and infrastructure development, the two PSUs are poised to accelerate the deployment of large-scale renewable energy projects and contribute significantly to India’s Net Zero ambitions and sustainable growth objectives.
FAQ
What is the purpose of the MoU between NLC India and IOCL?
The MoU aims to establish a Joint Venture for developing large-scale renewable energy projects in Tamil Nadu.
Where will the projects be developed?
The proposed renewable energy projects will primarily be developed in Tamil Nadu.
How will the renewable power be utilized?
The power will be supplied to commercial and industrial consumers, Discoms, power exchanges, e-mobility applications and other clean energy projects.
