NLC India Renewables, MAHAPREIT Sign JV Agreement to Develop 2 GW RE Projects in Maharashtra
NLC India Renewables Ltd. (NIRL) has signed a Joint Venture Agreement with Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) to develop up to 2,000 MW of renewable energy projects in Maharashtra, beginning with 500 MW in Phase I.
May 30, 2025. By Mrinmoy Dey
The Joint Venture Company (JVC) to be formed under this agreement will be instrumental in developing up to 2,000 MW of renewable energy projects including solar, wind, hybrid, floating solar, BESS, pumped storage and solar parks. Initial focus will be on developing 500 MW of RE projects in Phase I, eventually scaling to 5,000 MW in Maharashtra.
Under this Agreement, MAHAPREIT, will facilitate in identification and allotment of land for the projects in addition to providing support in development of power evacuation system to the grid. NIRL on the other hand will help in preparing the detailed project reports, arranging finance and development of RE projects. The JVC will have an equity structure of 74 percent held by NIRL and 26 percent by MAHAPREIT.
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 and industrial (C&I) consumers.
The signing took place in the presence of Vikram Dev Dutt, Secretary, Ministry of Coal, Prasanna Kumar Motupalli, Chairman and Managing Director, NLC India, Bipin Shirmali, Managing Director, MAHAPREIT, Vijaykumar Kalam Patil, Director Operations and senior officials from NIRL and MAHAPREIT. This is in continuation to the Memorandum of Understanding (MoU) signed between NIRL and MAHAPREIT on April 16, 2025.
Vikram Dev Dutt, Secretary, Ministry of Coal stated that 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. He added that 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 will serve as a catalyst for sustainable growth and energy security.
“The coal sector is actively supporting the decarbonisation journey, and such partnerships embody the synergy needed to achieve our national targets for renewable energy deployment and climate resilience,” said the secretary.
This collaboration marks a major milestone in NIRL’s strategic expansion and foray into Maharashtra’s thriving renewable energy sector.
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