NE ENERGY BUREAU
CHENNAI, JUNE 23
In a significant boost to India’s clean energy ambitions, NLC India Limited (NLCIL) and Indian Oil Corporation Limited (IOCL) have signed a Memorandum of Understanding (MoU) to establish a joint venture for developing large-scale renewable energy projects in Tamil Nadu, reinforcing the country’s transition towards a low-carbon and sustainable future.
The agreement marks a strategic collaboration between two major public sector enterprises to develop a broad portfolio of renewable energy projects, including solar, wind and hybrid power systems, with or without energy storage solutions such as Battery Energy Storage Systems (BESS) and Pumped Hydro Storage Projects.
- Strategic alliance targets large-scale solar, wind and hybrid energy projects to accelerate India’s clean energy transition
- Joint venture to explore battery storage, pumped hydro, green hydrogen and next-generation renewable technologies
- Partnership aligns with Net Zero goals while creating a robust ecosystem for industrial, commercial and mobility applications
- Collaboration strengthens Tamil Nadu’s position as a leading hub for sustainable energy investments and innovation
The MoU was signed in New Delhi by Anurag Mittal, Chief General Manager, Commercial and Business Development, NLC India Limited, and Manoj Nanda, Chief General Manager, Alternate Energy, Indian Oil Corporation Limited, in the presence of senior officials from both organisations.
The proposed joint venture will evaluate opportunities across the renewable energy value chain, including power supply to commercial and industrial consumers, distribution companies, energy exchanges, e-mobility applications, green synthetic fuels, green chemicals, solar module manufacturing and emerging clean-energy technologies based on techno-commercial feasibility.
The partnership comes at a time when India is rapidly expanding its renewable energy capacity to meet growing energy demand while reducing carbon emissions and enhancing energy security.
With nearly seven decades of expertise in mining and power generation, NLC India Limited has steadily diversified its portfolio beyond conventional energy and emerged as a key player in the renewable sector. The company has made substantial investments in solar power, wind energy, pumped hydro storage, battery energy storage systems, green hydrogen, low-carbon round-the-clock power solutions and waste-to-energy projects.
Commenting on the collaboration, Prasanna Kumar Motupalli, Chairman and Managing Director, NLC India Limited, said:
“The partnership with IOCL marks a significant milestone in NLCIL’s strategic diversification into clean and sustainable energy sectors.”
He further emphasised the importance of developing renewable energy projects through multiple technologies.
“The collaboration will focus on development of Renewable Energy Projects using various technologies for Solar, Wind, Hybrid, Battery Energy Storage System / Pumped Hydro Storage, Green Hydrogen and any new potential RE Technology emerging in future.”
Industry experts view the alliance as a powerful convergence of NLCIL’s renewable energy expertise and IOCL’s extensive energy infrastructure capabilities, creating a strong platform to accelerate large-scale clean energy deployment.
The initiative is expected to support India’s long-term decarbonisation goals while enabling reliable and affordable green power for industries, mobility solutions and emerging energy applications.
Beyond power generation, the collaboration is poised to strengthen domestic manufacturing ecosystems, encourage innovation in energy storage and green fuels, and create new opportunities in the rapidly expanding renewable energy sector.
The NLCIL–IOCL partnership represents a major milestone in India’s journey towards a cleaner, greener and energy-secure future, underscoring the commitment of both organisations to sustainable development, technological advancement and nation-building through next-generation energy solutions.
