NLC India renewable assets transfer moved forward on September 3, 2026, after the state-owned company signed an addendum to its Business Transfer Agreement with NLC India Renewables Limited, according to a BSE filing. The proposal covers 708.96 MW of renewable energy assets, including a 4 MW green hydrogen project, at various stages of construction or operation.

The addendum follows NLC India’s earlier exchange intimation dated October 31, 2025, concerning the Business Transfer Agreement with NLC India Renewables Limited, or NIRL. The disclosure was submitted under Regulations 30 and 51 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Financial details of the proposed transfer

NLC India said revenue from the operational renewable energy assets proposed for transfer stood at Rs 41.16 crore in FY 2025-26. This represented 0.24% of the company’s consolidated revenue of Rs 17,489.53 crore, based on audited financial statements as of March 31, 2026.

The renewable energy assets had a net worth of Rs 925.08 crore, equivalent to 4.30% of NLC India’s net worth of Rs 21,524.76 crore. The company identified its net worth as total equity attributable to owners and cited the same audited financial statements.

Metric Renewable assets Share of NLC India
FY 2025-26 revenue Rs 41.16 crore 0.24% of consolidated revenue
Net worth Rs 925.08 crore 4.30% of company net worth

Completion timeline and transaction terms

The filing said the proposed transfer is expected to be completed within three months. NIRL will pay the consideration in cash or through acknowledgement of debt. No specific consideration amount was disclosed.

  • NIRL is a 100% subsidiary of NLC India Limited.
  • The transaction is a related-party transaction between the holding company and its wholly owned subsidiary.
  • The renewable assets will be transferred at book value from NLC India’s books to NIRL’s books.
  • No amalgamation or merger is envisaged.

NLC India said Regulation 37A compliance is not applicable because the transaction is between the company and its wholly owned subsidiary. The filing will also be made available on the company’s website.

Source: BSE corporate announcement.