New Delhi: In a significant step towards advancing its renewable energy ambitions, NLC India Limited, a Navratna Government of India enterprise, has announced the incorporation of a new joint venture company with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL).
The new entity, named "NIRL Rajasthan Renewables Limited," has been established by NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India Limited, in partnership with RVUNL. The equity structure of the joint venture is 74:26 between NIRL and RVUNL, respectively. The Ministry of Corporate Affairs issued the certificate of incorporation for the new company on June 2, 2025.
The joint venture will focus on developing, operating, and maintaining green energy projects in Rajasthan. This strategic partnership aligns with NLC India’s broader commitment to expand its footprint in the renewable energy sector, in line with India’s national energy transition goals.
The formation of the joint venture received prior approval from the Ministry of Coal, Government of India, with the Department of Investment and Public Asset Management (DIPAM) granting its concurrence through a letter dated April 24, 2025.
The equity shares of the joint venture company will be subscribed in cash, with NIRL holding a majority 74 percent stake. The shares will be issued at a face value of Rs 10 each.
This initiative is expected to significantly strengthen NLC India's renewable energy portfolio and contribute to the sustainable development goals of both the central and state governments.
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