Last Updated on December 15, 2025 by Author
PTC India Limited has entered into a strategic joint venture agreement with NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India Limited (NLCIL), to jointly explore and develop large-scale green energy projects across India.
Under the agreement, the two companies will collaborate to develop up to 2,000 MW of green energy capacity in a phased manner on a pan-India basis. The scope of the collaboration includes solar, wind, hydro power, battery energy storage systems (BESS), and other emerging renewable energy technologies.
As per the joint venture structure, NLC India Renewables Limited will hold a 74% equity stake, while PTC India Limited will hold the remaining 26% in the JV company. Both partners will have the right to appoint nominee directors on the Board of the joint venture entity, ensuring joint oversight and governance.
The agreement also includes key shareholder rights such as Right of First Refusal (RoFR) and tag-along rights, in line with standard joint venture practices. Equity shares in the JV company will be issued at a value mutually agreed upon by the partners, subject to applicable laws and regulatory requirements.
PTC India Limited has clarified that it does not have any shareholding in NLC India Renewables Limited, and the transaction does not fall under related party transactions. The company has further stated that there is no potential conflict of interest arising from the joint venture agreement.
The partnership reflects the growing momentum among public sector and energy market participants to accelerate India’s renewable energy deployment and support the country’s long-term clean energy and decarbonisation goals.