Key Highlights
- NLC India and NALCO signed a Joint Venture Agreement on July 8, 2026.
- The joint venture will develop a 1,080 MW captive thermal power project at Angul, Odisha.
- The project will comprise four units of 270 MW each.
- NLC India and NALCO will hold equal 50:50 equity in the joint venture company.
- The plant is intended to provide long-term power supply for NALCO’s expansion plans.
NLC India Limited (NLCIL) and National Aluminium Company Limited (NALCO) have signed a Joint Venture Agreement (JVA) to develop a 1,080 MW coal-based captive thermal power project at Angul in Odisha. The project will be developed through a new joint venture company with equal equity participation from both public sector enterprises.
The agreement was signed on July 8, 2026, in the presence of Union Minister for Coal and Mines G. Kishan Reddy. Senior officials from the Ministry of Coal, Ministry of Mines, NLC India and NALCO also attended the signing ceremony.
The proposed project will consist of four units of 270 MW each, taking the total installed capacity to 1,080 MW. The captive power plant is intended to provide long-term and reliable power supply to support NALCO’s planned expansion.
Under the agreement, NLC India and NALCO will each hold a 50:50 equity stake in the joint venture company. The new entity will be responsible for developing, financing, constructing, owning, operating and maintaining the thermal power project.
According to the companies, the project is expected to strengthen cooperation between the two Navratna central public sector enterprises while supporting industrial growth and energy security. The captive power facility is also expected to play a key role in meeting the electricity requirements of NALCO’s future expansion plans.
The joint venture marks another step in collaboration between central public sector enterprises in the energy and mining sectors, with the project aimed at ensuring stable power availability for industrial operations.