NLC India Limited’s Board of Directors has approved the incorporation of a joint venture company with National Aluminium Company Limited (NALCO) for developing a 1,080 MW thermal captive power plant in phases. The proposed joint venture will have equal equity participation of 50:50 from NLC India and NALCO.
The decision was approved at the NLC India board meeting held on September 29, 2026, according to the company’s regulatory filing.
The proposed power plant will comprise four units of 270 MW each, with a total planned capacity of 1,080 MW. The project is intended to meet the captive power requirements of NALCO and will be developed in phases.
In addition to the thermal captive power project, the proposed joint venture will explore options for entering into long-term power purchase agreements (PPAs) to meet NALCO’s renewable energy requirements.
The formation of the joint venture and development of the project will be subject to various statutory and administrative approvals. The proposal will also be undertaken in compliance with the applicable Department of Investment and Public Asset Management (DIPAM) guidelines.
The collaboration brings together NLC India, a government-owned energy company with operations across power and mining, and NALCO, a public sector aluminium producer. The proposed arrangement is aimed at supporting NALCO’s captive power requirements while also providing a framework to explore renewable power procurement through long-term PPAs.
NLC India disclosed the proposed joint venture under Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with the prescribed details of the proposed arrangement.
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