ENA State 2025-05-30 15:13:57 <p><span style="font-size:14px"><strong>Mumbai, May 30 (KNN) </strong>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.</span></p> <p><span style="font-size:14px">The partnership is designed to develop up to 2000 MW of renewable energy projects across Maharashtra, with potential expansion to 5000 MW.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">NIRL will handle the preparation of detailed project reports, secure project financing, and oversee the overall development of the renewable energy initiatives.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 42266 https://knnindia.co.in/news/newsdetails/state/nirl-enters-into-jv-with-mahapreit-for-2000-mw-renewable-energy-project-in-maharashtra 2025-05-30 15:13:57 knnindia.co.in