NLC Commissions 106 MW of 300 MW Rajasthan Solar Project, Eyes IPO for NIRL

NLC India has recently commissioned the second phase, comprising 106 MW, and declared it commercially operational as part of the 300 MW Solar Power Project. With this latest commissioning, the total project capacity has reached 158.83 MW out of 300 MW. The company shared in a regulatory filing that the project is located in Barsingsar, Bikaner district, Rajasthan.

The company said it received the commissioning certificate from the Rajasthan Renewable Energy Corporation on November 2, 2025. NLC had previously commissioned the first part, with a capacity of 52.83 MW, on August 26, 2025, and later the second part in August 2025 under the second phase of the Solar Power Project at Bikaner in Rajasthan.

It commissioned this project with a 106 MW capacity and declared it commercially operational at Barsingsar, District Bikaner, Rajasthan. The commissioning certificate for the same was received from Rajasthan Renewable Energy Corporation Limited on November 2, 2025, it stated in a regulatory filing.

NLC India explained that the first part capacity of 52.83 MW had already been declared for commercial operation on August 26, 2025. The total capacity declared for commercial operation now stands at 158.83 MW out of 300 MW.

NLC India Renewable Energy Projects

The NLC India group, in Q2 FY2026, saw an increase in power generation capacity to about 6,899 MW, which includes 1,599 MW of renewable capacity. Prasanna Kumar Acharya, Director (Finance) of NLC in an investors call shared company's ongoing renewable projects. Among the ongoing projects are a 500 MW solar project and a 150 MW solar hybrid project in Gujarat.

The company is also currently developing a 50 MW solar project which is  on abandoned mined land. Its also aiming to develop a 600 MW solar project in Gujarat, and an 810 MW solar project is coming up in Rajasthan. He said NLC also has an ongoing 4 MW rooftop project in Neyveli, Rajasthan, Barsingsar, NUPPL and NTPL. A BESS project is also underway in Tamil Nadu.

NLC has so far developed projects in a 21:79 renewable-to-thermal mix. Kumar also mentioned having 2.5 GW of renewable capacity under ongoing work across different state governments. The company is currently collaborating with the governments of Rajasthan, Assam, Odisha and Maharashtra, and has formed joint ventures with them for the addition of renewable capacity. With all these efforts combined, he said the company is hopeful of adding more than 10 GW.

NIRL Hints at Entering IPO

Prasanna Kumar also spoke about his company’s plan to triple its total capacity by 2030 and increase its renewable capacity sevenfold. For that, he explained, it requires around ₹1.17 lakh crore, which will be funded through two main sources. He said the company plans to source it through internal resources, with a 70:30 ratio for conventional thermal power stations and 80:20 for renewable energy. It plans to monetise its assets through its subsidiary, NIRL.

He also hinted at coming up with an IPO, most probably in the first half of the next financial year. He said this would be one source of funds, along with internal resources and international financing.

Further elaborating on the company’s plan, he said that at present it is in the process of transferring assets worth ₹6,500 crore to ₹7,000 crore to NIRL.