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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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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
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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 |
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.
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Source: Economic Times
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