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NLC India Limited (NLCIL) has entered into a EUR 100 million loan agreement with KfW Germany on April 20, 2026, at the KfW Delhi office to support its solar and battery energy storage system (BESS) projects.
NLC India said this funding will facilitate the development of solar power generation and battery energy storage systems, strengthening its renewable energy portfolio and enhancing grid reliability. It will also enable access to capital at competitive rates while diversifying the company’s borrowing portfolio. The collaboration marks a significant step towards advancing India’s clean energy transition and decarbonisation goals.
This announcement aligns with NLC India’s goal for 2028 to add around 8 gigawatts and its 2030 target to reach 10 gigawatts renewable energy target. NLC India’s Chairman and Managing Director (MD), M. Prasanna Kumar said NLC started the year with around 1,400 MW renewable energy, has already added 300 MW, and plans to add another 300 MW.
He added that by the end of the financial year, NLC India will be around a 2 GW company, which aligns with its goal to reach the 10 GW target. He further explained that NLC India is aggressively adding capacity in different states and has formed a joint venture with the Rajasthan government to add 2 gigawatts of renewable energy capacity.
The agreement was signed by Carolin Gassner, Director, and Frank Bohnet, Director, on behalf of KfW. KfW officials including Rukmini Parthasarathy, Deputy Director, KfW Office New Delhi, and Mr. Ramana Reddy, along with other officials, participated in the ceremony, with additional members joining via video conference.
From NLCIL, Shri Prasanna Kumar Motupalli, CMD, and Dr. Prasanna Kumar Acharya, Director (Finance), were present. The agreement was formally executed by Mr. Murugan D, DGM i/c, on behalf of NLCIL and Padmavathi J, CFO, on behalf of NIRL, the Project Executing Agency.
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