NLCINDIA's subsidiary NIRL Secures GUVNL bid for project

's wholly owned subsidiary, NLC India Renewables Limited (NIRL), has received a Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Limited (GUVNL). The LoI formally awards NIRL a standalone Battery Energy Storage System (BESS) project with a capacity of 275 MW / 550 MWh in Gujarat, secured through a tariff-based competitive bidding process. NLC India’s transition from a thermal-dominant miner into an integrated clean utility player is accelerating. This standalone BESS contract provides low-risk, predictable cash flow backed by GUVNL. Securing the VGF support further de-risks the project's capital intensity, ensuring that NLC India's aggressive clean energy expansion does not overstretch its balance sheet. Backed by viability gap funding and a structured 12-year utility purchase contract, NLC India's entry into utility-scale storage positions the Navratna PSU to lead India's green grid transition while maintaining robust operational metrics. Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations.