NLC India Shares Surge on 810 MW Solar Project Deal with RVUNL and Critical Minerals MoU

NLC India (NLCIL) shares are expected to rise after announcing two key developments on Tuesday, May 6, 2025. Its renewable energy arm, NIRL, signed a power purchase agreement with RVUNL for an 810 MW solar project in Rajasthan, projected to generate 2 BU of green electricity annually and offset 1.5 million tons of CO2. This project, under MNRE's UMREPP scheme, is NLCIL's largest solar initiative and crucial for its 10 GW renewable energy target by 2030. Additionally, NLCIL signed an MoU with IREL (India) to collaborate on critical mineral and rare earth element (REE) development, including mining and refining, through domestic and international asset acquisition. This strategic move aligns with national efforts to secure critical resources. These significant steps in renewable energy and critical minerals are likely to be viewed positively by investors, potentially boosting NLC India's share price.