NLC India, NALCO to form 50:50 JV for 1080 MW Captive Power Plant
NLC India and NALCO will form a 50:50 Joint Venture to develop a 1080 MW Thermal Captive Power Plant. Approved on September 29, 2026, the venture aims to meet NALCO's power needs. Ministry of Coal conveyed DIPAM's approval on September 8, 2026. Shares will be acquired at face value of ₹10.
The joint venture involves a substantial power project (1080 MW) and a strategic partnership with another major PSU, which is expected to have a significant impact on NLC India's future operations and revenue streams.
The formation of a joint venture for a significant power project indicates strategic growth and expansion, which is positive for the company.
NLC India Limited (NLCIL) announced the incorporation of a Joint Venture Company (JVC) with National Aluminium Company Limited (NALCO) in a 50:50 equity participation ratio. This JVC will focus on developing a 1080 MW (4 X 270 MW) Thermal Captive Power Plant in phases. The plant is intended to meet the captive power requirements of NALCO. Additionally, the company will explore options for long-term Power Purchase Agreements (PPAs) for NALCO's renewable energy needs, subject to statutory and administrative approvals, and compliance with DIPAM guidelines.
The Board of Directors of NLC India Limited approved this venture during their meeting held on Tuesday, 29th September, 2026. The Ministry of Coal, via a letter dated 8th September, 2026, conveyed DIPAM's approval for the formation of this JVC. The proposed JVC, to be named NLC NALCO Power Limited or any other name approved by the Ministry of Corporate Affairs, will be incorporated in India. The shares of the JVC will be acquired at face value of ₹10 each, with NLC India holding 50% of the shares.
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NLC India Limited filed this with the NSE as a statutory disclosure, categorised under merger. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by NLC India Limited. Read the original for the full detail.