NLCIL partners with IOCL to boost renewable energy in Tamil Nadu
NLC India Ltd (NLCIL), which has a presence in mining and power generation, has been diversifying into large-scale renewable and green energy initiatives, including solar, wind, pumped hydro storage and BESS.
India’s government-run NLC India Ltd (NLCIL) has partnered with Indian Oil Corporation Ltd (IOCL) to form a joint venture for developing large-scale green energy projects in the southern state of Tamil Nadu, according to a report by news agency PTI.
NLCIL, which has a presence in mining and power generation, has been diversifying into large-scale renewable and green energy initiatives.
“The MoU was signed…for the development of large-scale Renewable Energy (RE) projects including solar, wind, hybrid power with or without energy storage such as battery storage and pumped storage projects...and any other opportunity in the renewable energy sector in the State of Tamil Nadu,” the company said in a filing, PTI reported.
NLCIL Chairman and Managing Director Prasanna Kumar Motupalli said that the partnership with IOCL marks a significant milestone in the company’s diversification into clean and sustainable energy sectors.
Apart from power projects, the two companies will assess opportunities in green synthetic fuels, green chemicals, the solar module manufacturing value chain and other renewable energy initiatives in the state, subject to techno-commercial viability, according to a report by Business World.
