PTC India Limited has incorporated NIRL PTC Renewables Limited, a joint venture with NLC India Renewables Limited, to develop renewable energy projects across India.
PTC India holds a 26% stake in the newly incorporated company, while NLC India Renewables owns the remaining 74%. PTC India subscribed to 26,000 equity shares with a face value of ₹10 each through an initial cash investment of ₹2.60 lakh.
The joint venture was incorporated on September 16, 2026, and will focus on developing renewable energy projects with a combined capacity of up to 2,000 MW. The first phase is expected to target approximately 500 MW.
The partnership will pursue a multi-technology renewable energy portfolio, with potential projects involving solar, wind and battery energy storage systems.
PTC India had received prior approval from the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, before proceeding with the incorporation of the joint venture.
Under the agreed corporate structure, both PTC India and NLC India Renewables will have the right to nominate directors to the board of NIRL PTC Renewables.
The joint venture brings together NLC India’s renewable energy development capabilities and PTC India’s power trading platform. PTC India holds a CERC Category I power trading licence and is engaged in the trading of electricity across India.
The company reported standalone power trading volumes of 25,783 million units (MU) in Q1 FY27, compared with 23,042 MU in Q1 FY26, representing a 12% year-on-year increase.
Separately, NLC India has proposed transferring 2,138.96 MW of existing renewable energy assets, valued at ₹3,439.60 crore, to NLC India Renewables. The proposal is scheduled for shareholder consideration at NLC India’s 70th Annual General Meeting on September 29, 2026.
The formation of NIRL PTC Renewables adds a dedicated renewable energy development platform to the two companies’ existing operations and establishes a framework for developing up to 2,000 MW of green energy capacity.
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