Shares of NLC India Limited rose around 2% after the company announced the signing of a Memorandum of Understanding with the Government of Gujarat to develop large-scale renewable energy projects in the state.
The MoU was signed during the Vibrant Gujarat Regional Conference for the Saurashtra and Kutch region, held on January 12, 2026, in Rajkot. The agreement reflects NLC India’s expanding focus on clean energy and long-term sustainability as part of its green transition strategy.
The MoU was executed by Devendra Pratap Singh, Executive Director (Projects & Business Development) and CEO of NLC India Renewables Limited, on behalf of NLC India Limited, and Bhakthi Shamal, Joint Secretary, Energy and Petrochemicals Department, on behalf of the Gujarat government. The signing took place in the presence of senior dignitaries, including Piyush Goyal, Union Minister for Commerce and Industry, along with ministers from the Government of Gujarat.
As per the announcement, the non-binding MoU envisages the development of solar, wind, hybrid and battery energy storage projects across Gujarat. The proposed investments under this collaboration are estimated at around ₹25,000 crore and are expected to generate significant employment opportunities in the region.
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