Lucknow: NLC India Limited is expanding its renewable energy portfolio with a 110 MW solar power project in Uttar Pradesh through its wholly owned subsidiary, NLC India Renewables Limited (NIRL), in partnership with the National Capital Region Transport Corporation Limited (NCRTC).
The project is being developed through NIRL NCRTC Renewables Limited (NNRL), a joint venture in which NIRL holds a 74% equity stake, while NCRTC holds the remaining 26%.
25-Year Captive Power Purchase Agreement Signed
On August 29, 2026, NNRL and NCRTC executed the Power Purchase Agreement (PPA) in New Delhi.
Under the agreement, NCRTC will procure the entire power generated from the solar project under a captive-mode arrangement for 25 years.
The long-term agreement will provide NCRTC with dedicated renewable power while giving the joint venture a structured and stable power off-take arrangement.
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110 MW Solar Project to Generate 180 MU Annually
The solar project will have a capacity of 110 MW and is expected to generate 180 million units (MU) of electricity annually.
Key Project Details
- Project capacity: 110 MW
- Location: Uttar Pradesh
- Annual energy generation: 180 million units (MU)
- PPA duration: 25 years
- Commissioning timeline: Within 24 months from PPA signing
- Power procurement: Entire power generated will be procured by NCRTC
- Mode: Captive renewable power
- PPA signing date: August 29, 2026
- PPA signing location: New Delhi
NIRL Holds 74% Stake in Joint Venture
NIRL, a wholly owned subsidiary of NLC India Limited, holds the majority stake in NIRL NCRTC Renewables Limited (NNRL).
The equity structure of the joint venture is:
- NLC India Renewables Limited (NIRL): 74%
- National Capital Region Transport Corporation (NCRTC): 26%
The partnership enables NLC India to expand its renewable energy portfolio while allowing NCRTC to secure dedicated renewable electricity for its operations.
Long-Term PPA Provides Power Off-Take Visibility
The 25-year PPA provides a long-term power procurement arrangement for the project. NCRTC has committed to procuring the entire electricity generated under the captive arrangement.
For the joint venture, the long-term off-take agreement can provide greater visibility over the project’s power utilisation and revenue arrangement.
For NCRTC, the project will provide access to dedicated renewable energy to support its clean-energy requirements.
Project to Strengthen NLC India’s Renewable Energy Portfolio
The Uttar Pradesh solar project represents another step in NLC India’s efforts to expand its presence in the renewable energy sector.
Through NIRL, the company is using joint-venture partnerships to develop renewable energy assets while supporting the clean-energy requirements of institutional and infrastructure-sector consumers.
The project is also expected to add to NLC India’s renewable energy presence in northern India once commissioned.
Regulatory Disclosure by NLC India
NLC India informed the stock exchanges about the development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The regulatory disclosure was signed by Sushanta Kumar Panda, Company Secretary and Compliance Officer.
The filing was made with:
- National Stock Exchange of India Limited (NSE)
- BSE Limited
The company stated that the development is aligned with its growing presence in the renewable energy space.
What the 110 MW Solar Project Means
The project combines a long-term renewable power commitment with a dedicated captive consumption arrangement.
Key takeaways include:
- 110 MW of planned solar capacity.
- 180 MU expected annual energy generation.
- 25-year power purchase commitment from NCRTC.
- 74% ownership of NNRL by NIRL.
- 26% ownership by NCRTC.
- Project commissioning targeted within 24 months of the PPA signing.
- The project will be located in Uttar Pradesh.
About NLC India Limited
NLC India Limited is a Navratna Central Public Sector Enterprise under the Ministry of Coal, Government of India. The company is engaged in mining and power generation and is expanding its presence in renewable energy through its subsidiaries, joint ventures and clean-energy projects.
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