NALCO shares in focus on JV with NLC India for 1,080 MW thermal plant in Odisha

NALCO and NLC India signed a joint venture agreement on July 8 to set up a 1,080 MW captive thermal power plant in Odisha, with both state-run firms holding an equal 50 percent stake. The plant will supply power under a 25-year Power Purchase Agreement to NALCO's 0.5 MTPA aluminium smelter expansion, alongside an exploration of 200-250 MW of renewable energy. NALCO has guided for revenue of around Rs 19,000 crore in FY27 and expects aluminium prices to stabilise at about USD 2,900-3,000 per tonne.