NLC India stock jumps after receiving LoA for setting up solar PV power projects

Synopsis:- The stock rose about 2% after securing a Letter of Acceptance for a 110 MW solar project in Uttar Pradesh. The company reported 14% revenue growth to ₹4,178 crore, plans to scale capacity to 20 GW by 2030, and targets over 10 GW renewables, signalling a strong clean-energy push.

The shares of this power generation company gained up to 2.2 percent in today’s trading session after the company received a Letter of Acceptance for setting up Solar PV Power Projects.

With a market capitalisation of Rs 34,229.12 crore, the shares of NLC India Ltd were trading at Rs 246.85 per share, increasing around 1.33 percent as compared to the previous closing price of Rs 243.70 apiece.

Letter of Acceptance

The shares of NLC India Ltd have seen positive movement after receiving a Letter of Acceptance from the National Capital Region Transport Corporation (NCRTC) for setting up 110 MW (AC) grid-connected solar PV power projects in Uttar Pradesh under captive mode. Additionally, the company’s subsidiary, NLC India Renewables, has signed a Joint Venture Agreement with PTC India to establish a green energy joint venture.

Financial & Operational Highlights

The company posted healthy top-line growth, with revenue rising 14% to  Rs 4,178 crore in Q2FY26, supported by higher operations. However, profitability came under pressure as net profit fell 26% to  Rs 725 crore, indicating rising costs, margin compression, or higher expenses during the quarter.

The company have a strong pan-India footprint with over 13 GW of thermal capacity, led by 4,390 MW in Tamil Nadu and 3,200 MW in Odisha. Renewable assets include 1,369 MW solar and 304 MW wind in Tamil Nadu, with another 2,851 MW of renewable projects planned nationwide, highlighting diversified growth.

NLCIL’s diversification beyond conventional power into six emerging areas. These include battery energy storage systems, EV charging and carbon capture, overburden-to-manufactured sand, pumped storage projects, critical minerals, and green hydrogen. Together, these initiatives signal a strategic shift toward sustainability, energy transition, and long-term resource security.

NLCIL’s total capacity is scaling from about 7.6 GW operational to nearly 20 GW by 2030. While thermal capacity remains significant, clean and green energy is set to contribute 50% of the mix. Within green capacity, solar dominates at ~79%, followed by pumped storage (~16%) and wind (~5%), highlighting a clear transition strategy.

NLC India reported a strong H1 FY26 performance, highlighted by the commissioning of  300 MW solar at Barsingar, NUPPL revenue of Rs 1,360 crore, and its highest-ever operations revenue of Rs 8,004 crore. The company also earned  IPMA Level-3 certification and signed strategic MoUs with  BARC, KABIL, and IREL  to advance critical mineral development.

NLC India’s outlook shows a sharp scale-up by 2030. Mining capacity is targeted to more than double from 50.1 MTPA to 104.35 MTPA, while thermal capacity rises from 5,960 MW to 10,020 MW. Renewable energy sees the biggest jump, expanding from 1.6 GW to over 10.1 GW, led by solar growth.

NLC India Ltd is a government-owned integrated energy company engaged in lignite and coal mining, thermal power generation, and renewable energy. With a strong pan-India presence, it is expanding into solar, wind, storage, and critical minerals to support India’s energy transition and long-term power security.

Written by Abhishek Singh

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