NLC India Limited has informed the Exchange about NLC India Renewables Limited, a Wholly Owned Subsidiary of NLC India Limited, has received a Letter of Award (LoA) from Tamil Nadu Green Energy Corporation Limited (TNGECL) for the development of three (3) standalone Battery Energy Storage System (BESS) projects with an aggregate capacity of 250 MW/500 MWh
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NLC India's wholly owned subsidiary, NLC India Renewables Limited, has received a Letter of Award from Tamil Nadu Green Energy Corporation Limited for three standalone Battery Energy Storage System (BESS) projects with a total capacity of 250 MW/500 MWh. This is the first large-scale BESS project for the NLCIL Group, marking a major milestone in its clean energy expansion. The projects will be set up at three substations in Tamil Nadu—Ottapidaram, Anuppankulam, and Kayathar—under a Build-Own-Operate model with Viability Gap Funding support. The award came through a competitive bidding process.
Positive for shareholders—this is a significant new business line diversification into energy storage, strengthening NLC India's renewable energy portfolio. The BOO model with VGF support reduces project risk, though the actual impact on stock price will depend on the project's revenue contribution and execution timeline.