NLC India & NALCO to form 50:50 JV for 1080 MW Thermal Power Plant
NLC India and NALCO will form a 50:50 Joint Venture, NLC NALCO Power Limited, for a 1080 MW Thermal Captive Power Plant. The JV aims to meet NALCO's power needs and explore renewable energy PPAs. DIPAM has approved the venture.
The formation of a joint venture for a new power plant represents a significant strategic move and potential future revenue stream, thus having a medium-term impact.
The formation of a joint venture for a significant power project is a positive development for the company, indicating expansion and strategic partnerships.
NLC India Limited announced the incorporation of a Joint Venture Company with National Aluminium Company Limited (NALCO). Both companies will have a 50:50 equity participation in this new entity, which will focus on developing a 1080 MW (4 X 270 MW) Thermal Captive Power Plant. This plant will be developed in phases to meet the captive power requirements of NALCO. Additionally, the JV will explore options for long-term Power Purchase Agreements (PPAs) for NALCO's renewable energy needs. The formation of this Joint Venture is subject to various statutory and administrative approvals and compliance with DIPAM guidelines.
The Ministry of Coal, via a letter dated 8th September 2026, conveyed DIPAM's approval for the formation of this Joint Venture. The proposed Joint Venture Company will be named NLC NALCO Power Limited or any other name approved by the Ministry of Corporate Affairs, and it will be incorporated in India. The shares of the proposed JVC will be acquired at a face value of ₹10 each, with NLC India Limited holding 50% of the shares.
This decision was taken during the Board of Directors' meeting held on Tuesday, 29th September 2026.
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NLC India Limited filed this with the NSE as a statutory disclosure, categorised under joint ventures. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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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.