State-owned NLC India Limited (NLCIL) has announced a landmark partnership with the Government of Gujarat to develop massive renewable energy projects. The Memorandum of Understanding (MoU), involving an estimated investment of ₹25,000 crore, was signed on Monday, January 12, 2026.
This pact marks one of the most significant green energy initiatives in the state this year, aligning with NLC India’s transition from a coal-centric “Navratna” to a diversified energy leader.
Key Highlights of the Pact
| Detail | Description |
| Total Investment | ₹25,000 Crore |
| Project Location | Various sites across Gujarat |
| Technologies | Solar, Wind, Hybrid, and Battery Energy Storage Systems (BESS) |
| Implementing Entity | NLC India Renewables Limited (NIRL) (Wholly-owned subsidiary) |
| Event Location | Vibrant Gujarat Regional Conference, Rajkot |
Strategic Significance
1. The 10 GW Vision
The collaboration is a cornerstone of NLC India’s corporate plan to achieve 10 GW of renewable energy capacity by 2030. By diversifying into BESS and Hybrid systems, the company aims to provide stable, round-the-clock green power.
2. Gujarat as a Green Hub
The Gujarat government has committed to providing a streamlined regulatory environment, facilitating faster statutory approvals and technical clearances to ensure the projects are implemented in a time-bound manner.
3. IPO for Renewables Arm
In a separate but related development, the NLC India board has given in-principle approval for the listing of NLC India Renewables Limited (NIRL). The company plans to dilute up to 25% equity via an IPO to raise approximately ₹4,000 crore by FY27 to fund these massive green projects.
Market Reaction
Following the announcement, NLC India shares rose by 4% on Wednesday, January 14, hitting an intraday high of ₹265.5 on the BSE. Investors have reacted positively to the aggressive growth targets and the upcoming monetization of the renewables subsidiary.
Official Presence
The MoU was signed by Devendra Pratap Singh (CEO of NIRL) and Bhakthi Shamal (Joint Secretary, Gujarat Energy Dept) in the presence of:
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Shri Piyush Goyal, Union Minister for Commerce and Industry.
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Key Gujarat state ministers, including Jitubhai Vaghani and Rushikesh Patel.