On Tuesday, state-run NLC India Limited (NLCIL) announced that it has partnered with Indian Oil Corporation Limited (IOC) to create a joint venture to develop large-scale green energy projects in the state of Tamil Nadu.NLCIL, which operates in the fields of mining and generating electric power, has been actively diversifying into large-scale renewable and green energy projects such as solar, wind, pumped hydro storage, and battery energy storage systems.On June 22, 2021 a Memorandum of Understanding was signed between IOC and NLCIL for building large scale renewable energy projects like solar, wind, hybrid power (with or without battery storage, pumped storage) and any other opportunities in the state, the company said in a filing to BSE.According to NLCIL's Chairman & Managing Director Prasanna Kumar Motupalli, the partnership represents an important step in the company’s strategic diversification into the clean and renewable sectors.Read More: No bids made in Indian Oil tender for ships to carry Gulf cargoes, say sourcesThe collaborative effort is also seen as an important step toward strengthening clean energy in India as both organisations are committed to advancing sustainable development, facilitating technologies, and contributing to nation building through reliable and green energy solutions, the filing said.