NIRL and MAHAPREIT Join Hands to Establish a Green Energy

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“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 and will serve as a catalyst for sustainable growth and energy security.” - Vikram Dev Dutt, Secretary, Ministry of Coal.

May 2025 : NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India Limited, signed a Joint Venture Agreement (JVA) today with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) at Mumbai. The signing took place in the presence of Vikram Dev Dutt, Secretary, Ministry of Coal, Prasanna Kumar Motupalli, Chairman and Managing Director, NLC India Limited, Bipin Shirmali, Managing Director, MAHAPREIT, Vijaykumar Kalam Patil, Director Operations and senior officials from NIRL and MAHAPREIT.

This collaboration marks a major milestone in NIRL’s strategic expansion and foray into the State of Maharashtra’s thriving 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 percent held by NIRL and 26 percent by MAHAPREIT.

Under this Agreement, MAHAPREIT, will facilitate in identification and allotment of land for the projects in addition to support 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 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.

Mr. Dutt said 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 and will serve as a catalyst for sustainable growth and energy security.

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