NLC India Limited has signed an addendum to its Business Transfer Agreement with its wholly-owned subsidiary, NLC India Renewables Limited (NIRL), to transfer 708.96 MW of renewable energy assets. The company disclosed the development on September 3, 2026, as part of its strategy to streamline and consolidate its renewable energy business.
The assets being transferred include operational and under-construction renewable energy projects, along with a 4 MW Green Hydrogen project. During the financial year 2025-26, the operational assets generated revenue of ₹41.16 crore, representing 0.24% of NLC India’s total consolidated revenue of ₹17,489.53 crore.
The net worth of the renewable assets covered under the transaction stands at ₹925.08 crore. This accounts for 4.30% of NLC India’s total net worth of ₹21,524.76 crore as of March 31, 2026.
The transaction will be executed as a slump sale at book value. NIRL will settle the consideration through cash payment or acknowledgement of debt. Since NIRL is a wholly-owned subsidiary of NLC India, the transaction qualifies as a related party transaction conducted on an arm’s-length basis.
NLC India stated that Regulation 37A of the SEBI LODR Regulations is not applicable to the transaction because it involves a holding company and its wholly-owned subsidiary and does not involve any merger or amalgamation scheme.
The transfer is expected to be completed within three months from the agreement date. The move will enable NLC India to place its renewable assets under a dedicated clean-energy subsidiary and strengthen its focus on expanding its renewable energy portfolio.
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