NALCO Clarifies Position on Green Power Project Amid Market Speculation
BHUBANESWAR / NEW DELHI – National Aluminium Company Limited (NALCO), a Navratna CPSE, has formally denied media reports claiming it is currently negotiating the setup of a 200–300 MW green power facility with battery storage. In a regulatory filing on January 28, 2026, the company clarified that while it remains committed to long-term sustainability, no specific project of this nature has been finalized or officially announced.
The clarification aims to address investor curiosity following a sharp uptick in NALCO’s stock price, which recently touched a record high of ₹384.
The RE Transition: Strategy vs. Current Status
While NALCO has dismissed reports of immediate "negotiations" for the storage-backed project, the company confirmed that its green energy journey is very much active.
- Consultant Appointment: NALCO is currently hiring a specialized consultant to design a comprehensive Renewable Energy (RE) roadmap. This strategy will focus on meeting statutory Renewable Purchase Obligations (RPO) and securing low-cost, round-the-clock (RTC) green power.
- The "Green Aluminium" Vision: CMD Brijendra Pratap Singh recently highlighted that 80% of NALCO’s carbon footprint stems from its 1,200 MW coal-based captive power plants. Transitioning even 200–300 MW to renewables could reduce carbon intensity significantly, though cost remains a factor—coal power costs ₹3–3.5 per unit, while green power with storage can exceed ₹4.5–5 per unit.
Major Ongoing Projects
NALCO is not just focusing on energy; it is currently executing a massive ₹30,000 crore expansion plan to double its production capacity by 2030.
- Fifth Stream Expansion: Raising alumina refinery capacity in Damanjodi from 2.1 to 3.1 million tonnes.
- Bauxite Security: Operations at the Pottangi Bauxite Mines are expected to commence by mid-2026, providing raw material security for the next 15+ years.
- Smelter Brownfield Expansion: Adding 0.5 million tonnes per annum to its existing smelting capacity