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Moneycontrol

NALCO and NLC India sign 50:50 JV to build 1,080 MW captive thermal power plant in Odisha

AI Market Summary
NALCO and NLC India signed a 50:50 JV to build a 1,080 MW captive coal power plant in Odisha, backed by a 25-year PPA for all output to NALCO and long-term coal supply priced to Coal India notifications. The structure is designed to lock in power costs, a key variable for aluminium smelting margins. Market impact is largely idiosyncratic and incremental for broader aluminium pricing.
Impact level
● Low
Affected assets
NCCOALUMINIUM2USD/USDT-0.57%
AI Insight · NCCOALUMINIUM2USD/USDTAI Insight
● Neutral
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National Aluminium Company (NALCO) and NLC India have signed a joint venture agreement to form a 50:50 company to develop a 1,080 MW (4×270 MW) captive coal-based power plant at Angul, Odisha. The venture will enter into a 25-year power purchase agreement to supply 100% of the electricity generated to NALCO, while NLC India will provide coal under a long-term fuel supply agreement at Coal India notified prices. The arrangement is aimed at securing low-cost power supply and easing cost pressure for aluminium smelting. NALCO was at Rs 349.75, 21.42% below its 52-week high, with a market capitalisation of Rs 64,236.20 crore.
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