NLC India signed an addendum to transfer 708.96 MW of renewable energy assets to its subsidiary, NLC India Renewables Limited (NIRL). The portfolio includes a 4 MW Green Hydrogen project at various stages of development. The transfer is a slump sale valued at a book price of INR 925.08 crore.
This restructuring serves as a precursor to NIRL’s proposed Initial Public Offering (IPO). The company expects the IPO to raise approximately INR 4,000 crore by the 2027 fiscal year. This move consolidates the renewable portfolio to streamline operations and attract clean energy investors. The asset transfer will conclude within three months.