NLC India Bags LoA for 250 MW Battery Storage Projects in Tamil Nadu

    Synopsis:

    NLC India Renewables has won a 250 MW/500 MWh standalone BESS project from Tamil Nadu Green Energy Corporation. The project will operate on a BOO model with VGF support.


    NLC India Ltd has announced that its renewable energy arm, NLC India Renewables Ltd, has received a Letter of Award (LoA) from Tamil Nadu Green Energy Corporation Ltd (TNGECL). The contract includes the development of three standalone Battery Energy Storage System (BESS) projects. These projects, with a combined capacity of 250 MW/500 MWh, mark NLC India’s foray into utility-scale battery storage operations.

    This will be the NLCIL Group’s first major BESS project, structured under the build-own-operate (BOO) model. The contract was awarded through competitive bidding and includes support through viability gap funding (VGF) to ensure financial feasibility.

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    Key Takeaways

    • Total BESS capacity awarded: 250 MW/500 MWh

    • Number of projects: 3 standalone systems

    • Model of execution: Build-Own-Operate (BOO)

    • Support: Viability Gap Funding (VGF) included

    • Awarding body: Tamil Nadu Green Energy Corporation Ltd (TNGECL)

    • NLC India share price likely to see renewed investor interest

    Also read: HAL Wins Rs. 511 Crore SSLV Tech Deal from ISRO for Rocket Launches

    Project Details At A Glance

    Parameter

    Details

    Awarding Entity

    Tamil Nadu Green Energy Corporation

    Developer

    NLC India Renewables Ltd

    Parent Company

    NLC India Ltd

    Capacity

    250 MW / 500 MWh

    Charging/Discharging Cycles

    Two full cycles per day

    Model

    Build-Own-Operate (BOO)

    Financial Support

    Viability Gap Funding (VGF)

    Number of Projects

    Three standalone units

    Financial and Market Outlook

    The project adds to NLC India's green energy ambitions and strengthens its role in the evolving energy storage space. NLC India Ltd recently reported a consolidated net profit of Rs. 468.46 crore in the March quarter of FY25, representing a four-fold jump. This financial performance, combined with new BESS initiatives, is expected to influence the NCL India share price positively in the coming quarters.

    NLC India’s latest win with TNGECL highlights its strategic shift towards clean energy technologies and energy storage. As demand for grid stability and renewable integration rises, this battery energy storage project is a timely addition to India's green energy roadmap. The announcement is likely to bolster investor confidence and may impact the NCL India share price as the projects progress.

    Also read: JSW Energy Joins Raigarh Champa Bidding After NCLAT Clears Fresh Round

    Source: Economic Times

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    Published Date : 23 Jun 2025

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    Content Partner - Dalal Street Investment Journal Wealth Advisory Private Limited



    This article is for educational purposes only and should not be considered investment advice. Market investments are subject to risks. DSIJ Wealth Advisory Private Limited is a SEBI-registered Research Analyst (Reg. No: INH000006396) and Investment Adviser (Reg. No: INA000001142). Please consult your financial adviser before investing. 

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