NIRL Enters Into JV With MAHAPREIT For 2000 MW Renewable Energy Project In Maharashtra

Mumbai, May 30 (KNN) NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India Limited, entered into a joint venture agreement with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) on Thursday in Mumbai.

The partnership is designed to develop up to 2000 MW of renewable energy projects across Maharashtra, with potential expansion to 5000 MW.

The joint venture agreement builds upon a Memorandum of Understanding that was signed on April 16, 2025. Under the new arrangement, NIRL will hold a 74 percent equity stake while MAHAPREIT will maintain 26 percent ownership in the joint venture entity.

The collaboration will commence with Phase I development of 500 MW capacity, incorporating multiple renewable energy technologies including solar, wind, hybrid systems, floating solar installations, Battery Energy Storage Systems (BESS), pumped storage facilities, and solar parks.

MAHAPREIT's responsibilities under the agreement include identifying suitable project sites and facilitating land allocation, as well as supporting the development of power evacuation infrastructure to connect projects to the electrical grid.

NIRL will handle the preparation of detailed project reports, secure project financing, and oversee the overall development of the renewable energy initiatives.

Vikram Dev Dutt, Secretary, Ministry of Coal, characterised the joint venture as a demonstration of government commitment to collaborative partnerships that advance India's transition to renewable energy.

He noted that Maharashtra's renewable energy potential, combined with NIRL's project execution capabilities and MAHAPREIT's regional expertise, positions the joint venture to serve as a catalyst for sustainable development and energy security.

(KNN Bureau)