New Delhi: NLC India Limited has signed a Business Transfer Agreement with its wholly owned subsidiary NLC India Renewables Limited (NIRL), for the proposed transfer of 708.96 MW of renewable energy assets, including a 4 MW Green Hydrogen Project.
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The agreement was signed on September 3, as part of the proposed hiving off of renewable energy assets that are currently at various stages of construction and operation.
According NLC India Ltd, the renewable energy assets proposed to be transferred generated operational revenue of Rs. 41.16 crore during FY2025-26. This represented 0.24 percent of NLC India's consolidated revenue of Rs 17,489.53 crore for the financial year ended March 31, 2026.
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The net worth of the renewable energy assets stood at Rs. 925.08 crore, equivalent to 4.30 percent of NLC India's net worth of Rs. 21,524.76 crore, based on the audited financial statements as of March 31, 2026.
The transaction is expected to be completed within three months. The consideration will be paid by NIRL through cash and/or acknowledgement of debt.
NIRL, which will acquire the assets, is a 100 percent subsidiary of NLC India. The transaction will constitute a related-party transaction as it is being undertaken between the holding company and its wholly owned subsidiary.
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