NLC India Renewables Limited (NIRL), a wholly owned subsidiary of state-owned NLC India Limited, has formed a joint venture with the Odisha Renewable Energy Development Agency (OREDA) to develop green energy plants in Odisha. The joint venture has been incorporated as NIRL OREDA RENEWABLES LIMITED, with the Ministry of Corporate Affairs issuing its certificate of incorporation on 31 August 2026. The partnership formalises collaboration between a central renewable arm and the state renewable agency.

Under the ownership structure NIRL will hold 51 per cent while OREDA will hold 49 per cent, giving NIRL majority control and enabling joint development of renewable projects. NLC India disclosed the joint venture to the National Stock Exchange of India (NSE) and BSE Limited, and the filing was made by Sushanta Kumar Panda in his capacity as company secretary and compliance officer under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The filing reflects regulatory compliance by the listed parent.

The partnership is expected to support development of clean energy generation capacity in Odisha through joint planning, site identification and project implementation. The parties will leverage technical and financing capabilities to pursue generation opportunities and build pipelines within the state. The arrangement aligns with NLC India’s strategy to expand its renewable portfolio and strengthen its presence in the clean energy sector.

NIRL was established as the renewable arm of NLC India to pursue greenfield and brownfield projects across India. OREDA functions as the state nodal agency to promote renewable energy in Odisha and to facilitate approvals and local coordination. The joint venture is intended to combine central technical resources and financing with state-level facilitation.

Market interactions will remain subject to regulatory disclosures and corporate governance as the joint venture progresses towards project identification and execution. Stakeholders have been notified through stock exchange filings and further updates are expected to follow as project-level decisions are taken. The creation of NIRL OREDA RENEWABLES LIMITED marks a formal step in collaboration between central and state renewable entities.