NLC India has signed a Memorandum of Understanding (MoU) with Indian Oil Corporation (IOCL) for formation of a Joint Venture (JV) for establishment of Renewable Energy Power Projects in the State of Tamil Nadu.

The MoU was signed on 22 June 2026 for the development of large scale Renewable Energy (RE) projects including Solar, Wind, Hybrid Power with or without Energy Storage such as Battery Storage and Pumped Storage Projects or any combination of the same for supply of renewable power to third party, Commercial and Industrial (C&I) consumers, Discoms, energy exchange, for e-mobility, power to applications such as usage/ production of green synthetic fuels/chemicals, complete value chain for solar module manufacturing etc. and any other opportunity in the renewable energy sector in the State of Tamil Nadu, as mutually agreed and based on techno-commercial feasibility.

While strengthening its conventional power portfolio, NLCIL has also been actively expanding into large-scale renewable and green energy initiatives including solar,wind, pumped hydro storage, Battery Energy Storage Systems (BESS), green hydrogen, low-carbon round-the-clock power and waste-to-energy projects.