NLC India Limited (NLCIL) and Indian Oil Corporation Limited (IOCL) have signed a Memorandum of Understanding (MoU) to jointly develop large-scale renewable energy projects in Tamil Nadu. The agreement was signed on June 22, 2026, in New Delhi and marks an important step toward strengthening India’s clean energy sector.
The MoU was signed by Anurag Mittal, Chief General Manager (Commercial and Business Development) of NLCIL, and Manoj Nanda, Chief General Manager (Alternate Energy) of IOCL. Senior officials from both organizations were present during the signing ceremony, including Dr. Prasanna Kumar Acharya, Director (Finance) of NLCIL, and Suman Kumar, Director (Planning and Business Development) of IOCL.
Under the agreement, the two public sector companies plan to establish a Joint Venture (JV) that will focus on the development of renewable energy projects across Tamil Nadu. The partnership will cover solar, wind, and hybrid energy projects to support the growing demand for clean power in the country.
To improve reliability and support grid stability, the proposed venture will also examine the use of advanced energy storage technologies. These include Battery Energy Storage Systems (BESS) and Pumped Hydro Storage solutions, which can help manage fluctuations in renewable power generation and ensure a steady supply of electricity.
The scope of the partnership extends beyond power generation. The companies intend to supply green energy to electricity distribution companies (Discoms), commercial and industrial consumers, third-party buyers, and power exchanges. The renewable power generated through these projects may also support emerging sectors such as electric mobility, green synthetic fuels, and green chemical production.
In addition, the collaboration will explore opportunities to develop a complete solar manufacturing value chain, including activities related to solar module production. All proposed projects and initiatives will be implemented after detailed techno-commercial feasibility studies to ensure their viability and long-term sustainability.
NLC India Limited, a Navratna Central Public Sector Enterprise under the Ministry of Coal, has been expanding its renewable energy portfolio in recent years. The company is actively investing in clean energy technologies, including green hydrogen, waste-to-energy projects, and round-the-clock low-carbon power solutions.
Speaking on the partnership, NLCIL Chairman and Managing Director Prasanna Kumar Motupalli said that the collaboration with IOCL represents a significant milestone in the company’s diversification strategy. He reaffirmed NLCIL’s commitment to adopting both existing and emerging renewable technologies to support a greener future.
The partnership is expected to contribute to India’s clean energy goals and support the country’s vision of achieving net-zero emissions while strengthening sustainable and reliable energy infrastructure.
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