NLC India Renewables Limited (NIRL) and PTC India, a provider of power trading solutions, have entered into a green energy joint venture agreement (JVA) at Neyveli, in the Indian state of Tamil Nadu.
NLC India Renewables is a wholly owned subsidiary of NLC India Limited.
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This agreement aims to establish, operate, and maintain renewable energy projects totalling up to 2,000MW in phases, with the first phase targeting about 500MW.
The JVA was signed in the presence of Prasanna Kumar Motupalli, NLC India chair and managing director, Manoj Kumar Jhawar, PTC India chair and managing director, and the functional directors of NLC India.
This agreement follows a memorandum of understanding signed on 8 September 2025, between NIRL and PTC India.
The new joint venture company will develop a broad portfolio of renewable energy projects, including solar, wind, hydro, battery energy storage systems, green ammonia, and other emerging green technologies.
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By GlobalDataThis venture will allow both the organisations to leverage their strengths in project development, power trading, renewable energy park development, and integrated green energy solutions.
Power sales, under this agreement will be conducted through competitive and regulated mechanisms under Section 62 or Section 63 of the Electricity Act, serving a mix of distribution companies, government agencies, and commercial and industrial consumers.
