Awaiting price reaction for this filing.
NLC India's wholly owned subsidiary, NLC India Renewables Limited, has received a Letter of Award from Tamil Nadu Green Energy Corporation Limited (TNGECL) for setting up 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 and represents a major milestone in its energy storage business. The projects will be executed under the Build-Own-Operate (BOO) model with Viability Gap Funding (VGF) support from the state government. They will be located at Ottapidaram, Anuppankulam, and Kayathar substations in Tamil Nadu and were awarded through a competitive bidding process.
This is a positive development for NLC India shareholders, as it opens a new business vertical in energy storage and adds meaningful capacity to its renewable portfolio. Backed by VGF support and awarded competitively, the project should improve the group's long-term earnings visibility and align with the growing demand for grid-scale battery storage.