In a major step towards boosting India’s green 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) on Friday. The agreement was formalized in Mumbai in the presence of top government and company officials.
The ceremony was graced by Shri Vikram Dev Dutt, Secretary, Ministry of Coal; Shri Prasanna Kumar Motupalli, Chairman and Managing Director of NLC India Limited; Shri Bipin Shirmali, Managing Director of MAHAPREIT; and Shri Vijaykumar Kalam Patil, Director (Operations), along with senior representatives from both NIRL and MAHAPREIT. The JVA follows the Memorandum of Understanding (MoU) signed between the two entities on April 16, 2025.
Large-Scale Green Energy Plans
The newly formed Joint Venture Company (JVC) will spearhead the development of up to 2,000 MW of renewable energy projects in the initial phase, with plans to scale up to 5,000 MW across Maharashtra. The projects will encompass solar, wind, hybrid systems, floating solar, Battery Energy Storage Systems (BESS), pumped storage, and solar parks.
Phase I will focus on setting up 500 MW of renewable capacity. As per the agreement, the equity structure of the JVC will comprise 74% stake by NIRL and 26% by MAHAPREIT.
Division of Roles
Under the terms of the agreement, MAHAPREIT will facilitate land identification and allocation and support the development of the power evacuation infrastructure. Meanwhile, NIRL will lead the preparation of detailed project reports (DPRs), arrange financing, and manage overall development of renewable energy assets.
The JVC will also be responsible for power sales through competitive bidding and regulated mechanisms under Sections 62 and 63 of the Electricity Act, catering to DISCOMs, government agencies, and commercial and industrial (C&I) consumers.
Government Endorsement
Commenting on the partnership, Coal Secretary Vikram Dev Dutt said the agreement reflects the Government’s firm resolve to foster collaborations that align with national renewable energy goals. “With NIRL’s project expertise and MAHAPREIT’s regional presence, this joint venture will serve as a catalyst for Maharashtra’s green growth. It represents the synergy needed to drive the coal sector’s support for India’s decarbonization mission,” he stated.
This strategic collaboration underscores NLC India Limited’s growing role in the country’s clean energy landscape and reaffirms investor confidence in the operational capabilities of NIRL in delivering high-quality renewable solutions nationwide.
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