NLC India Renewables Bags 900 MW Solar Power Project from GUVNL in Gujarat
NLC India Renewables Limited (NIRL), a wholly-owned subsidiary of state-run NLC India Limited, has received a Letter of Intent from Gujarat Urja Vikas Nigam Limited (GUVNL) for setting up a 900 MW solar power project. NLC India confirmed the development in a filing to the BSE.
The project was awarded through a tariff-based competitive bidding process, with GUVNL as the sole procurer of the electricity generated. NIRL was formed in 2023 to acquire and manage NLC India's green energy assets and to develop new renewable power generation capacity domestically and overseas.
The 900 MW award follows an earlier 300 MW solar project NIRL secured from GUVNL at a discovered tariff of ₹2.34 per unit. The new allocation adds significantly to NIRL's solar order book in Gujarat, building on existing project infrastructure the company has developed in the state.
The award comes as part of NLC India's broader asset monetisation and renewable expansion strategy, under which the company transferred about 1.4 GW of operational green energy assets to NIRL. NLC India Limited added 303 MW of renewable capacity during FY2025-26, including a 300 MW solar project in Rajasthan and rooftop solar installations at Tuticorin, Ghatampur and Neyveli.
The 900 MW Gujarat project strengthens NIRL's position in India's utility-scale solar segment as the subsidiary builds its portfolio ahead of a proposed public listing.