NALCO and NLC India Sign JV Agreement for 1,080 MW Captive Power Plant at Anugola, Odisha
National Aluminium Company Limited (NALCO) and NLC India Limited (NLCIL) have signed a Joint Venture-cum-Shareholders' Agreement for formation of a 50:50 joint venture company (JVC) to develop a 4×270 MW (1,080 MW) Thermal Captive Power Plant at Anugola, Odisha. The agreement was executed in New Delhi in the presence of the Union Minister of Coal and Mines, along with senior officials from both companies and the Ministry of Coal.
The JVC will be incorporated with its registered office at Chennai and corporate office at Bhubaneswar, with NALCO and NLCIL each holding 50% equity. The joint venture company will enter into a 25-year Power Purchase Agreement with NALCO for full offtake of power, and a long-term Fuel Supply Agreement with NLCIL for coal at Coal India notified prices.
The power plant is linked to NALCO's ongoing 0.5 MTPA aluminium smelter expansion at Anugola, targeted for commissioning in 2030-31, which requires an additional 800 MW of assured captive power. The proposed JVC will build the 4×270 MW brownfield thermal capacity in a phased manner within NALCO's existing captive power plant premises at Anugola, and will separately develop 200-250 MW of firm renewable energy capacity in line with Renewable Consumption Obligation norms, supported by NLCIL through long-term power purchase or group captive arrangements.
The agreement follows a non-binding memorandum of understanding signed by the two companies in February 2026, which had established the broad framework for collaboration in thermal and renewable power project development and long-term coal supply. NLCIL brings coal supply support to the project, including from its Machhakata coal mine in Odisha, located near the Anugola site. Both NALCO and NLCIL are Navratna central public sector enterprises operating under the Ministry of Coal and Mines