Joint Venture8 Jul 2026, 06:50 pm
NALCO, NLC India ink JV for 1,080 MW captive power plant
AI Summary
National Aluminium Company Ltd (NALCO) and NLC India Limited (NLCIL) have signed a Joint Venture-cum-Shareholders' Agreement to form a 50:50 Joint Venture Company (JVC). This JVC will develop a 1,080 MW (4x270 MW) Thermal Captive Power Plant (CPP) at Anugola, Odisha. The agreement follows a non-binding MoU signed in February 2026. The JVC aims to meet NALCO's increased power demand for its smelter expansion and will also pursue 200-250 MW of renewable energy. NLCIL will provide coal supply from its Machhakata mine. This strategic partnership between two Navratna CPSEs under the Ministry of Mines and Coal is a significant milestone.
Key Highlights
- NALCO and NLC India form 50:50 JV for 1,080 MW captive power plant.
- Plant to be located at Anugola, Odisha, supporting NALCO's smelter expansion.
- JV will also develop 200-250 MW renewable energy capacity.
- NLCIL to supply coal and support renewable energy initiatives.
- Strategic partnership between two Navratna CPSEs.
Price Impact
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