NLC India, IOCL Sign MoU for Joint Venture in Solar, Wind and Hybrid Renewable Energy Projects in Tamil Nadu
NLC India Limited has signed a Memorandum of Understanding with Indian Oil Corporation Limited (IOCL) to form a Joint Venture for setting up renewable energy power projects in Tamil Nadu. The agreement was signed on June 22, 2026, in New Delhi, by Anurag Mittal, Chief General Manager (Commercial and Business Development) at NLC India, and Manoj Nanda, Chief General Manager (Alternate Energy) at IOCL.
The JV will develop large-scale solar, wind and hybrid power projects in Tamil Nadu, with or without energy storage components such as battery storage and pumped storage. Power generated from these projects will be supplied to third parties, commercial and industrial consumers, distribution companies (discoms), and energy exchanges.
Beyond power generation, the partnership will support applications including e-mobility and the production of green synthetic fuels and chemicals. The two companies will also explore opportunities across the solar module manufacturing value chain and other renewable energy segments within Tamil Nadu.
Specific projects under the JV will be taken up based on techno-commercial feasibility and mutual agreement between NLC India and IOCL. No investment figures, capacity targets, or implementation timeline have been disclosed at this stage.
The collaboration represents a diversification move for NLC India, a Navratna CPSE under the Ministry of Coal, which already has interests in solar, wind, pumped hydro storage, battery energy storage systems, green hydrogen and waste-to-energy. For IOCL, the JV extends its alternate energy footprint into large-scale renewable generation in southern India.