NLC India Ltd (NLCIL) has signed a memorandum of understanding (MoU) with Indian Oil Corporation Ltd (IOCL) for formation of a joint venture for establishment of renewable energy power projects in Tamil Nadu.
The MoU was signed on Monday at New Delhi, by Anurag Mittal, Chief General Manager, Commercial and Business Development, NLCIL and Manoj Nanda, Chief General Manager, Alternate Energy, IOCL
The MoU will include the development of large scale Renewable Energy (RE)projects including Solar, Wind, Hybrid Power.
Speaking on the occasion, Shri Prasanna Kumar Motupalli, Chairman & Managing Director, NLC India Limited, stated that the partnership with IOCL marks a significant milestone in NLCIL’s strategic diversification into clean and sustainable energy sectors and emphasised on development of Renewable Energy Projects using various technologies for Solar, Wind, Hybrid, Battery Energy Storage System / Pumped Hydro Storage, Green Hydrogen and any new potential RE Technology emerging in future.