NLC India Renewables Limited (NIRL), a subsidiary of NLC India Limited, has signed a joint venture agreement with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) to establish a large-scale green energy company in Maharashtra.

The new joint venture company will focus on developing up to five thousand megawatts of renewable energy capacity, including solar, wind, hybrid, floating solar, battery energy storage systems, pumped storage, and solar parks. The first phase will target five hundred megawatts. NIRL will hold seventy-four per cent equity, while MAHAPREIT will hold 26 per cent.

MAHAPREIT will facilitate land allocation and grid connectivity, while NIRL will prepare project reports, arrange financing, and lead development. The power will be sold to state utilities, government agencies, and industrial consumers through competitive and regulated mechanisms.

The Ministry of Coal stated that this collaboration reflects the government’s commitment to clean energy. Maharashtra’s potential and the combined strengths of NIRL and MAHAPREIT are expected to accelerate sustainable growth and energy security.

Source:
Press Information Bureau (PIB)