The non-binding MoU envisages the development of solar, wind, hybrid and battery energy storage (BESS) projects, with an aggregate investment potential of approximately Rs 25,000 crore and generation of substantial employment opportunities.

The proposed projects shall be developed through the company’s wholly owned subsidiary, NLC India Renewables (NIRL). The strategic collaboration aligns with the NLC India’s corporate plan to achieve 10 GW of renewable energy capacity by 2030.

Meanwhile, the company’s board approved the listing of NLC India Renewables (NIRL), in line with the Government of India’s National Monetisation Pipeline targets. The listing will be carried through dilution of equity stake up to 25% in one or more tranches through public offer.

NLC India is a public sector undertaking that is involved in lignite mining, coal mining, power generation and power trading. Government of India held 72.20% stake in the company as on 30 September 2025.

The company’s consolidated net profit declined 27.1% to Rs 665.12 crore despite 14.2% jump in net sales to Rs 4,178.41 crore in Q2 FY26 over Q2 FY25.