National Aluminium Company Limited (NALCO) and NLC India Limited (NLCIL) have signed a Joint Venture-cum-Shareholders' Agreement (JVA) to establish a 50:50 Joint Venture Company (JVC) for a 1,080 MW Thermal Captive Power Plant (CPP) at Anugola, Odisha. The agreement was executed in New Delhi on July 8, 2026, in the presence of the Union Minister of Coal and Mines. The JVC, which will have its Registered Office in Chennai and Corporate Office in Bhubaneswar, will be incorporated under the Companies Act, 2013. NALCO and NLCIL will each hold 50% equity. The JVC will enter into a 25-year Power Purchase Agreement (PPA) with NALCO for 100% offtake of power and a long-term Fuel Supply Agreement with NLCIL for coal. This strategic partnership follows a non-binding Memorandum of Understanding (MoU) signed on February 14, 2026. The new power plant is crucial for NALCO's 0.5 MTPA Aluminium Smelter expansion at Anugola, which requires an additional 800 MW of assured captive power, with commissioning envisaged in 2030-31. The JVC will also pursue 200-250 MW of firm Renewable Energy (RE-RTC). NLCIL, with extensive experience in mining and power generation, will contribute its project execution capabilities and assured long-term coal supply from its Machhakata coal mine in Odisha.
