NLC India Renewables Ltd, a wholly owned subsidiary of NLC India, has emerged as the successful bidder for a 275 MW/550 MWh standalone Battery Energy Storage System (BESS) project in Gujarat. According to the latest regulatory filing dated September 4, 2026, the company has received a Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Ltd (GUVNL) for the project development. The subsidiary participated in the tender floated by GUVNL for setting up standalone battery energy storage systems in Gujarat under Tariff-Based Competitive Bidding. As per CNBC TV18, this marks a notable achievement for NLC India Renewables Limited and reinforces its position in the renewable energy sector.
The winning project has a capacity of 275 MW/550 MWh and will be developed in the state of Gujarat. As reported by CNBC TV18, the project represents a significant addition to India's renewable energy storage infrastructure. The standalone battery energy storage system will be developed under the competitive bidding framework established by GUVNL to encourage private sector participation in renewable energy storage projects. According to CNBC TV18, the project was awarded through a Tariff-Based Competitive Bidding process, with NLC India Renewables securing a contracted capacity of 200 MW from the total 600 MW wind power project under the Inter-State Transmission System (ISTS)-connected tender floated by SJVN Ltd.
In a significant development, NLC India has secured another major renewable energy project through its subsidiary. According to CNBC TV18, NLC India Renewables Ltd (NIRL) emerged as the successful bidder for a 200 MW wind power project from SJVN Ltd. The company participated in the Request for Selection (RfS) floated by SJVN for the selection of wind power developers for the supply of 600 MW of wind power from ISTS-connected wind power projects on a pan-India basis under tariff-based competitive bidding. NIRL received a Letter of Award (LoA) from SJVN Ltd for this project, marking another milestone in the company's renewable energy portfolio expansion.
NLC India reported mixed financial results for the first quarter of FY27. According to the latest earnings announcement, the company's consolidated net profit declined 39.3% year-on-year to ₹484.2 crore in Q1 FY27, compared with ₹797.5 crore in the corresponding period of the preceding fiscal year. However, the company showed strong revenue growth with consolidated revenue from operations surging 23.3% YoY to ₹4,716.7 crore during the quarter, as against ₹3,825.6 crore in Q1 FY26. This revenue growth demonstrates the company's ability to expand its business operations despite profitability challenges.
Shares of NLC India closed ₹2.85 higher at ₹272.20 per unit, up by 1.06% on the BSE following the announcement of the wind power project win. According to CNBC TV18, the stock has gained ₹2.85 during the trading session, reflecting positive investor sentiment towards the company's renewable energy expansion. The stock has lost 1% in the past week and nearly 11% over the month, but has advanced 6% on a year-to-date basis. The scrip hit a 52-week high of ₹387.80 per equity share on May 14, 2026, and touched a year's low of ₹228.80 on September 8, 2025. NLC India has a total market capitalisation of ₹37,716.52 crore as of September 8, 2026, according to NSE data.
