en.Wedoany.com Reported - NLC India Renewables Limited (NIRL), a subsidiary of NLC India Limited under India's Ministry of Coal, has signed a joint venture agreement with the Odisha Renewable Energy Development Agency (OREDA) to develop 1,000 MW of renewable energy capacity in Odisha.

The joint venture will be responsible for the development, operation, and maintenance of green energy assets across the state. The 1,000 MW portfolio specifically includes 525 MW of pumped storage power stations and battery energy storage systems (PSP & BESS), 250 MW of wind power, and 225 MW of floating solar projects. The wind power projects are planned to be distributed across identified sites within the state, and the joint venture will also assess additional renewable energy and supporting infrastructure related to the project pipeline.

The project aims to expand Odisha's installed renewable energy capacity and support the integration of variable renewable energy into the state grid. According to data from India's Ministry of New and Renewable Energy (MNRE), as of the latest available statistics, the state has approximately 706 MW of installed solar capacity, with an additional 487 MW under implementation across the state.

NLC India Limited is a Navratna-class state-owned enterprise active in lignite mining and power generation, with the Government of India holding a 72.2% stake. On a consolidated basis, for the quarter ended March 31, 2026, NLC India reported a net profit of INR 13.93 billion (approximately USD 147 million), a year-on-year increase of 189%, with revenue rising 31.5% to INR 50.42 billion (approximately USD 534 million).

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