Please refer the attachment.
Awaiting price reaction for this filing.
NLC India Limited's wholly owned subsidiary, NLC India Renewables Limited (NIRL), has signed a Joint Venture Agreement (JVA) with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) on 29 May 2025 in Mumbai. The JVA formalises the MoU signed on 16 April 2025. The new Joint Venture Company will develop up to 200 MW of renewable energy projects in Maharashtra — including solar, wind, hybrid, floating solar, BESS (battery storage), pumped storage, and solar parks — starting with 100 MW in Phase I and eventually scaling to 5,000 MW. NIRL will hold 74% equity in the JVC while MAHAPREIT will hold 26%. MAHAPREIT will assist with land allotment and grid connectivity, while NIRL will handle detailed project reports, financing, and execution. The signing was witnessed by the Secretary (Coal), Government of India, and senior leadership of both companies, highlighting strong government support for India's green energy transition.
This JV strengthens NLC India's renewable energy portfolio and gives it a foothold in Maharashtra's growing clean energy market, supporting long-term revenue diversification beyond coal. For shareholders, the deal signals expansion of NIRL's order pipeline and earnings potential, though the actual financial impact will depend on project execution and tariffs over the coming years.