NLC India Renewables and MAHAPREIT Forge Joint Venture to Develop 2000 MW Renewable Energy Projects in Maharashtra

Mumbai: In a landmark step towards accelerating India’s renewable energy transition, NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India Limited, signed a Joint Venture Agreement (JVA) with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) in Mumbai today. The agreement marks the formal establishment of a collaborative platform to develop up to 2000 MW of renewable energy projects in Maharashtra, with an initial target of 500 MW in the first phase.

The signing ceremony took place in the presence of Vikram Dev Dutt, Secretary, Ministry of Coal; Prasanna Kumar Motupalli, Chairman & Managing Director, NLC India Limited; Bipin Shirmali, Managing Director, MAHAPREIT; Vijaykumar Kalam Patil, Director (Operations), and senior officials from both NIRL and MAHAPREIT. The agreement follows the Memorandum of Understanding (MoU) signed between the two entities on April 16, 2025.

The new Joint Venture Company (JVC), with an equity structure comprising 74% ownership by NIRL and 26% by MAHAPREIT, will be tasked with implementing a wide range of renewable energy projects including solar, wind, hybrid, floating solar, battery energy storage systems (BESS), pumped hydro storage, and solar parks. The partnership aims to scale the project capacity up to 5000 MW in the long term, positioning Maharashtra as a major hub in India’s clean energy landscape.

As per the agreement, MAHAPREIT will facilitate land identification and allotment for renewable projects and assist in the development of power evacuation infrastructure. NIRL will lead the preparation of detailed project reports, arrange financial resources, and manage the execution of renewable energy projects.

The Joint Venture Company will focus on selling power through both competitive and regulated market mechanisms as outlined under Section 62 and Section 63 of the Electricity Act. The target consumers include state DISCOMs, government agencies, as well as commercial and industrial users, ensuring a balanced portfolio for sustainable power distribution.

Speaking at the event, Secretary of the Ministry of Coal, Vikram Dev Dutt, hailed the partnership as a demonstration of the Government of India’s commitment to collaborative models for accelerating green energy deployment. He noted that Maharashtra, with its vast renewable energy potential, stands to gain immensely from this strategic alliance. With NIRL’s proven expertise in large-scale project execution and MAHAPREIT’s deep regional connect, the joint venture is poised to become a powerful vehicle for sustainable energy growth and climate resilience.

He further emphasized that the coal sector is playing a critical role in India’s decarbonization journey, actively supporting green energy initiatives through innovative partnerships and infrastructure investments. This JVA, he said, is a vital step in aligning India’s industrial and energy sectors with national climate goals.

This collaboration underscores the growing credibility of NLC India Limited and its renewable energy arm, NIRL, in delivering world-class green energy solutions. The partnership with MAHAPREIT reflects the increasing confidence of state and central agencies in public-sector-led innovation and capacity building in India’s renewable energy mission.