Maharashtra: NIRL, MAHAPREIT To Form JV For 2 GW RE Projects

NLC India Renewables Limited (NIRL), a NLC India Limited subsidiary, signed a Joint Venture Agreement (JVA) with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) at Mumbai on 29th May 2025.

This collaboration is key in NIRL’s expansion and foray into Maharashtra’s renewable energy sector. The Joint Venture Company (JVC) to be formed under this agreement will be instrumental in developing up to 2000 MW of renewable energy projects including solar, wind, hybrid, floating solar, BESS, pumped storage, and solar parks, with an initial focus on 500 MW in Phase I, eventually scaling to 5000 MW in Maharashtra. The JVC will have an equity structure of 74% held by NIRL and 26% by MAHAPREIT.

Under this Agreement, MAHAPREIT will facilitate in identification and allotment of land for the projects in addition to supporting the development of a Power Evacuation System to the Grid. NIRL on the other hand will help in preparing detailed project reports, arranging finance, and developing RE projects. The JVC will undertake power sales through competitive and regulated routes under Section 62 or Section 63 of the Electricity Act, targeting a mix of DISCOMs, government entities, and commercial & industrial consumers.

About The Joint Venture

The signing took place in the presence of Vikram Dev Dutt, IAS, Secretary (Coal), Government of India, Prasanna Kumar Motupalli, Chairman & Managing Director, NLC India Limited, Bipin Shirmali, IAS, Managing Director, MAHAPREIT, Vijaykumar Kalam Patil – IAS (Rtd) – Director Operations and senior officials from NIRL & MAHAPREIT. This is in continuation to the Memorandum of Understanding (MoU) signed between NIRL and MAHAPREIT on 16th April 2025.

Statement from Secretary (Coal), Government of India, “The signing of this Joint Venture Agreement between NIRL and MAHAPREIT is a demonstration of the Government’s commitment to fostering collaborative partnerships that accelerate the country’s transition to green energy. Maharashtra’s renewable potential is immense, and with the proven expertise of NIRL in project execution and the regional strength of MAHAPREIT, this joint venture aims to catalyze sustainable growth and energy security. The coal sector is actively supporting the decarbonization journey, and such partnerships embody the synergy needed to achieve our national targets for renewable energy deployment and climate resilience.”