In a significant move toward scaling India’s green energy infrastructure, PTC India Limited has signed a joint venture agreement with NLC India Renewables Limited (NIRL) to develop up to 2,000 MW of renewable energy projects across the country.
The partnership brings together PTC India’s energy trading expertise with NIRL’s project development capabilities to create a diversified clean energy portfolio spanning multiple technologies and geographies.
Multi-Technology Approach to Clean Energy
The joint venture will pursue opportunities across a range of renewable energy segments, including:
- Solar power projects
- Wind energy installations
- Hydropower developments
- Battery energy storage systems (BESS)
- Emerging renewable technologies
This diversified approach positions the partnership to capitalize on India’s varied renewable energy potential while supporting grid stability through energy storage solutions.
Equity Structure and Governance
Under the partnership framework, NLC India Renewables will hold majority ownership with a 74% stake, while PTC India will hold the remaining 26% equity in the new venture. Both partners will have board representation, ensuring collaborative decision-making and strategic alignment.
The agreement incorporates standard shareholder protections, including Right of First Refusal (RoFR) and tag-along rights. Share valuation will be determined through mutual agreement between the partners, in compliance with applicable regulatory requirements.
Strategic Significance
The collaboration reflects a broader trend of public sector energy companies pooling resources and expertise to fast-track renewable energy deployment in India. With the country targeting ambitious clean energy goals, such partnerships are becoming increasingly critical to bridge the gap between current capacity and future requirements.
PTC India has confirmed that it holds no prior stake in NLC India Renewables, and the transaction has been structured to avoid any related party conflicts or potential conflicts of interest.
What This Means for India’s Energy Transition
This 2 GW pipeline adds substantial momentum to India’s renewable energy expansion plans. By combining project development, financing capabilities, and market access, the partnership is well-positioned to deliver utility-scale clean energy projects that can make a meaningful impact on the country’s decarbonization journey.
The phased development approach will allow the partners to optimize project execution while adapting to evolving market conditions and technological advancements in the renewable energy sector.
About the Partners:
PTC India Limited is a leading power trading company that facilitates electricity transactions across India, playing a key role in the country’s energy markets.
NLC India Renewables Limited (NIRL) is the renewable energy arm of NLC India Limited, focused on developing green energy projects as part of India’s clean energy transformation.
