NLC India Shares Gain After Signing PPA for 810 MW Solar Project with RVUNL

Market Performance

NLC India shares gained momentum on May 7, breaking a five-day losing streak after the company announced a significant deal in the renewable energy sector.

• At 09:39 AM, the stock was trading at ₹219.35, up ₹1.60 or 0.73% on the BSE.
• The stock’s 52-week high is ₹311.65 (July 16, 2024) and 52-week low is ₹185.85 (February 17, 2025).
• It trades 29.62% below its 52-week high and 18.03% above its 52-week low.
• Market Capitalisation: ₹30,415.87 crore.

Main News

The uptick in NLC India shares follows the signing of a Power Purchase Agreement with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL).

The agreement is for an 810 MW solar power project, spearheaded by NLC India Renewables Limited (NIRL) — a wholly owned subsidiary of NLC India.

• The project is part of the MNRE’s Ultra Mega Renewable Energy Power Park (UMREPP) Scheme – Mode 8.
• It was awarded through a competitive tariff-based bidding process.
• It will be set up within the 2000 MW Pugal Solar Park in Rajasthan, developed by RVUNL.

This move strengthens NLC India’s renewable energy portfolio and aligns with India’s low-carbon transition goals.

Company Developments

Besides the PPA, NLC India has been actively expanding its strategic collaborations and project pipeline:

• Signed a Memorandum of Understanding (MoU) with IREL (India) to explore and develop critical minerals and rare earth elements (REE).
• Received a Letter of Award in March for a 200 MW wind power project from SJVN at a tariff of ₹3.74 per kWh.
• In principle, board approval was granted for external commercial borrowings up to USD 200 million, with an equivalent green shoe option.

Summary

NLC India shares are gaining momentum as the company boosts its presence in the renewable energy sector with a new 810 MW solar project in Rajasthan.

Recent developments—including partnerships, green project awards, and international borrowing plans—suggest a strong forward-looking growth strategy.

These initiatives are poised to enhance the company’s renewable energy capacity and contribute to India’s clean energy goals.