Tenders & Auctions

NLC India Renewables Wins GUVNL Letter of Intent for 300 MW Wind Power Projects

October 30, 2026 By Vedant Pandya 5 min read
NLC India Renewables: wind turbines on a hilly landscape at sunset
0:00 / 06:12

NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India Limited, has received a Letter of Intent from Gujarat Urja Vikas Nigam Limited (GUVNL) for 300 MW of wind power projects. NLC India disclosed the award to the stock exchanges on 28 October 2026. NIRL won 100 MW in GUVNL’s Phase XI tender and accepted two further greenshoe allocations of 100 MW each. NIRL’s disclosed wind awards since August 2026 now total 700 MW.

Key Details of the Award

According to NLC India’s Regulation 30 intimation:

  • Tender: GUVNL procurement of power through competitive bidding from 250 MW grid-connected wind power projects (Phase XI)
  • Greenshoe option: additional capacity of up to 250 MW
  • Won by NIRL in the bid: 100 MW
  • Greenshoe accepted: 100 MW
  • Additional greenshoe accepted: 100 MW
  • Total: 300 MW, covered by the Letter of Intent

The filing does not disclose the tariff, the project sites, the commissioning deadline, the date of the Letter of Intent or the investment required. It also does not name the other bidders or say how the remaining tender capacity was allocated. A power purchase agreement with GUVNL, the usual next step after a Letter of Intent, has not been announced.

How the Capacity Was Built Up

The greenshoe route accounts for two-thirds of the award. The base tender sought 250 MW, and the option allowed the procurer to take up to another 250 MW. NIRL’s share therefore exceeded the size of the base tender, though the filing does not say how the procurer applied the option across bidders. Together with the 900 MW solar Letter of Intent received from GUVNL in July 2026, the wind award gives NIRL 1,200 MW of GUVNL capacity.

Corporate Backdrop

NLC India is a Navratna public sector enterprise under the Ministry of Coal. At its 70th Annual General Meeting on 29 September 2026, Chairman-cum-Managing Director Dr Prasanna Kumar Acharya said the Group’s renewable portfolio had expanded to 1,785 MW. He set out a roadmap to 20 GW of power capacity and over 100 million tonnes a year of mining capacity under Vision 2047. Renewable expansion, battery energy storage systems (BESS) and green hydrogen pilot projects form part of that plan.

The company generated a record 2.26 billion units of green energy in FY 2025-26, according to the same release. Consolidated revenue from operations reached ₹17,490 crore, and profit after tax was ₹3,769 crore. Capital expenditure for the year was ₹9,131 crore, and net worth rose 14.96% to ₹21,525 crore.

Parallel Thermal Plans

The renewable awards sit alongside new thermal plans. On 22 October 2026, NLC India signed memoranda with the Industrial Promotion and Investment Corporation of Odisha Limited for a 3,200 MW (4 x 800 MW) ultra-supercritical coal-based plant in Odisha, with a potential investment of ₹35,000 crore. The agreements also cover a coal gasification project. A beach sand mineral processing facility has a tentative investment of ₹2,000 crore. In the June 2026 quarter, group gross power generation rose to 8,262.06 million units from 6,609.40 million units.

About NLC India

NLC India’s registered office is in Chennai and its corporate office is at Neyveli in Tamil Nadu. The company mines coal and generates thermal and renewable power, and it reported a coal output of 19.14 million tonnes in FY 2025-26 from the Talabira mines. In the June 2026 quarter, group revenue from operations rose 23.29% to ₹4,716.75 crore from ₹3,825.61 crore. Group profit before tax rose 9.76% to ₹651.55 crore from ₹593.60 crore, and group net worth stood at ₹22,069.07 crore on 30 June 2026. At the AGM, the CMD also reported full commercial operation of all three 660 MW units at NUPPL Ghatampur and the start of coal production at the Pachwara South mine.

NIRL’s Recent Pipeline

According to NLC India’s stock exchange filings in 2026:

  • July 2026: Letter of Award from Bundelkhand Saur Urja Limited for 2 x 300 MW solar projects at the Jalaun Solar Power Park in Uttar Pradesh.
  • July 2026: Letter of Intent from GUVNL for a 900 MW solar power project.
  • August 2026: Letter of Award from Solar Energy Corporation of India Limited for a 200 MW wind project in Koppal, Karnataka.
  • August 2026: PPA between NIRL NCRTC Renewables Limited, a 74:26 joint venture, and National Capital Region Transport Corporation for a 110 MW solar project, with 180 million units of annual generation required.
  • September 2026: Letter of Award from SJVN Limited for 200 MW of ISTS-connected wind power.
  • September 2026: Letter of Award from SJVN for a 265 MW / 530 MWh standalone BESS in Haryana at ₹2,35,000 per MW per month.
  • October 2026: Letter of Award from West Bengal State Electricity Distribution Company Limited for a 50 MW / 200 MWh standalone BESS at Arambag, Hooghly.

Outlook

A power purchase agreement with GUVNL has not been announced, and the filing does not state the tariff or the commissioning date. Land and grid connectivity for the projects have not been disclosed either. NIRL now holds awards across solar, wind and storage, each with its own schedule. NLC India’s results for the September 2026 quarter are the next scheduled disclosure to watch for progress on the portfolio.

Official Sources

  1. NLC India Limited – Regulation 30 intimation: GUVNL Letter of Intent for 300 MW wind projects (NSE, 28 October 2026): https://nsearchives.nseindia.com/corporate/NLCINDIA_28102026150005_LOI_Intimation_28_10_2026-Signed.pdf
  2. NLC India Limited – Press release on the 70th Annual General Meeting (NSE, 29 September 2026): https://nsearchives.nseindia.com/corporate/NLCINDIA_29092026212052_AGM_Press_Release_Final_29_09_2026_Signed.pdf
  3. NLC India Limited – Press release: results for the quarter ended 30 June 2026 (NSE, 7 August 2026): https://nsearchives.nseindia.com/corporate/NLCINDIA_07082026190015_SEIntimationPressRelease07082026Signed.pdf
  4. NLC India Limited – Letter of Intent from GUVNL for 900 MW solar (NSE, 30 July 2026): https://nsearchives.nseindia.com/corporate/NLCINDIA_30072026125250_SE_Intimation_-Letter_of_Intent_30_07_2026-Signed.pdf
  5. NLC India Limited – Letter of Award from SJVN for 200 MW wind (NSE, 8 September 2026): https://nsearchives.nseindia.com/corporate/NLCINDIA_08092026182118_LOA_Intimation_08092026-Signed.pdf
  6. NLC India Limited – Press release: MoUs with IPICOL, Odisha (NSE, 22 October 2026): https://nsearchives.nseindia.com/corporate/NLCINDIA_22102026200744_SE_MoU_with_IPICOL_Press_Release.pdf

Discussion (0)

Leave a Comment

CAPTCHA