NLC India Renewables Limited (NIRL), a wholly owned subsidiary of state-owned NLC India Limited, has formed a new joint venture with the Odisha Renewable Energy Development Agency (OREDA) to develop green energy power plants in Odisha.
The new joint venture has been incorporated as NIRL OREDA RENEWABLES LIMITED, with the Ministry of Corporate Affairs issuing its Certificate of Incorporation on August 31, 2026.
Under the agreed ownership structure, NIRL will hold a 51% equity stake in the company, while OREDA will hold the remaining 49%. The arrangement gives NIRL majority ownership while enabling both organisations to work together on renewable energy development.
The formation of the joint venture was disclosed by NLC India to the National Stock Exchange of India (NSE) and BSE Limited. The disclosure was submitted by Sushanta Kumar Panda, Company Secretary and Compliance Officer of NLC India, under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
The partnership is expected to support the development of clean energy generation capacity through collaboration between NLC India’s renewable energy arm and Odisha’s state renewable energy agency. It also reflects NLC India’s broader strategy to expand its renewable energy portfolio and strengthen its presence in the clean energy sector.
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