NLC India Renewables and OREDA form joint venture for 1,000 MW green energy projects in Odisha

NLC India Renewables, a subsidiary of NLC India, has signed a joint venture agreement with Odisha Renewable Energy Development Agency (OREDA) to develop green energy power plants in Odisha. The joint venture will establish, operate, and maintain projects with an aggregate capacity of 1,000 MW in the first phase. Technologies covered include solar, wind, pumped hydro storage, battery energy storage systems (BESS), green hydrogen, low-carbon round-the-clock power, and waste-to-energy. The partnership marks a step in NLC India's diversification from lignite mining into clean energy. The company is a Navratna public sector enterprise under the Ministry of Coal. NLC India's consolidated net profit surged 189% to Rs 1,393 crore in Q4 March 2026 compared to the same quarter last year, while net sales rose 31% to Rs 5,042 crore. The JV is notable for combining a state-level renewable energy agency with a central PSU, potentially streamlining land acquisition and regulatory approvals. The 1,000 MW target in the first phase is ambitious but the mix of technologies suggests a portfolio approach rather than relying on a single resource.