NABARD and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT), a Government of Maharashtra enterprise, have signed a memorandum of understanding to finance and promote green, climate-resilient and sustainable infrastructure across rural India.

The partnership will combine NABARD’s expertise in rural development, climate finance and green infrastructure financing with MAHAPREIT’s experience in climate-focused infrastructure development. It will support the identification, development, structuring and financing of projects aimed at improving rural prosperity, climate resilience and quality of life.

The collaboration will initially focus on green energy, decarbonisation of government buildings, gram panchayat infrastructure, rural public institutions and water pumping schemes. Clean energy solutions are also planned for technical education institutions, government hospitals, district hospitals and other public service facilities serving rural communities.

The organisations will also explore financing for biogas and bioenergy projects using agricultural residue and biomass resources. These initiatives are expected to create additional income opportunities for farmers while supporting the circular economy.

Solar-powered micro cold storage facilities for village-level bodies will also be considered under the partnership, with a special focus on strengthening villages, Panchayati Raj Institutions and community infrastructure in Maharashtra.